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Pratt Regional Medical Center reports improved cash flow, outlines June assessment and summer recovery plan
Summary
Hospital leaders told the Pratt County commissioners the hospital’s finances improved in March thanks to employee retention credit funds and cost cuts; a USDA-funded hospital assessment is due in mid-to-late June and a formal recovery plan will go to the board by August or September.
Pratt Regional Medical Center leaders told the Pratt County Board of Commissioners on a recent meeting that the hospital’s finances showed improvement for the month ending March 31, driven by expense reductions and nonoperating revenue from employee retention credit (ERC) funds.
“Bringing our net revenue for operations at $5,100,000…our operating expenses…$4,900,000,” Tammy (interim) said, noting the hospital received significant nonoperating revenue from ERC money that produced a net income of $2,400,000 for the month. Interim CFO Tanya said the ERC…
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