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PMC posts unusually high August revenue; finance team reports one-time adjustments and insurer rate change
Summary
PMC reported its highest gross-revenue month on record for August, driven by higher patient activity and several accounting adjustments; management said Medicare billing edits and a negotiated rate change with Aetna will affect cash flow timing and payer mix.
PMC reported unusually high gross revenues in August and a month of positive operating results driven by higher patient volumes and several accounting adjustments, board members heard Sept. 25. Jason, staff member (finance), presented the financial report and said gross revenues for August reached about $3.1 million, with total expenses near $2.5 million, producing roughly $175,000 in operating income for the month. The report said contractual adjustments were elevated—partly from write-offs tied to diabetes testing billed in long-term care that are not pursued for payment—and bad-debt levels remained near historical norms. Jason said year-to-date operations showed a net loss of about $76,000 but that routine…
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