(Spirit Lake)– The Board of Trustees of Dickinson County Memorial Hospital spent a portion of their meeting last evening reviewing financial information for the fiscal year that ended June 30th.
Chief Financial Officer Jon Stover says patient revenues totaled 26-point-two million dollars; Medicare and other deductions were nine-point-three million; operating expenses were 16-point-seven million dollars; and net income was one and-a-half million dollars. Stover says net income was down some 500-thousand dollars from the 2000 fiscal year…but he says that isn’t a fair comparison because 2000 was a phenomenal year…one that may never be repeated again. Operating expenses were up nearly nine percent from the 2000 fiscal year. Stover says that was due mainly to wages, utilities, outside services and worker’s compensation increases. Deductions were also up considerably. Stover says they continue to try to get a handle on that situation…but a reduction in Medicare reimbursements is having a huge impact.
