SVH Governing Board Reviews Oct-Nov Finances

By Lorri Ooley

HERALD Reporter

The Governing Board for Sierra Vista Hospital (SVH) met Wednesday afternoon, Dec. 17, during which Chief Financial Officer Bret Goebel and board members reviewed the finances for both October and November in detail.

For the month of October, SVH had an increase of nearly $273,000, bringing the cash available on hand to $4,670,891, and increased their statistic for available cash operation to 112.4 days. This statistic represents the amount of days the hospital could operate without any additional financial intake.

Between September and October, the gross patient account receivable decreased by $127,942, and was anticipated by hospital administration and Governing Board – due to seasonal lulls historically experienced by SVH. The hospital, however, had a net income of nearly $49,000 for October overall, with gross revenue ending at $2,463,921. Salary, and wages was under budget by slightly more than $4,000 and employee benefits was under budget by $12,651.

For the month of November, SVH experienced a decrease of available cash on hand by $123,869, which brought the cash fund to $4,547,022. This reduced the available cash on hand statistic to 109.7 days. However, gross patient account receivable increased by $95,542.

As of the November statement, SVH has a total of $177,018 monies of long-term liabilities, which includes the previous financial leasing of the medical C-Arm machine and replacement of the hospital’s blood analyzer.

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