(Spencer)– A recently released audit report shows Spencer Hospital experienced a solid fiscal year during a period of reduced healthcare reimbursement.
The hospital’s board of trustees reviewed the audit for the fiscal year ended June 30th, 2008 at their monthly meeting Wednesday.
The report shows an operating margin of 4.5 percent for the year, reflecting both increased revenues and expenses. The operating margin was down slightly from the previous year’s margin of 6.4 percent.
The report also shows that the hospital’s charity and uncompensated care for the year totaled just under three million dollars, an increase of nearly one million dollars over the previous year.
The report shows the hospital’s revenues totaled 58.3 million dollars for the year ended June 30th, 2008…a four and-a-half percent increase from the prior year.
