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Hospital posts September operating gain but warns of slow cash collections and rising payables
Summary
Finance committee reported a $118,000 operating gain in September but flagged low cash collections, accounts receivable growth and accounts payable increases tied to state invoices; collections contractor work is expected to yield improvements by month-end.
The hospital reported a net operating gain for September but finance leaders warned the board that cash collections lag behind recorded revenue, leaving the organization with higher accounts receivable and accounts payable balances.
Tish, the finance presenter, told the board the hospital posted a $118,000 gain in September and that gross patient revenue was strong for the month, but much of that revenue had not yet been collected. “We made lots of money, we just haven't collected it,” Tish said, explaining that cash…
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