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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 money covered quarters the hospital applied for and that the hospital still expects additional funds from the state for other quarters.
Hospital leaders said a clinic assessment is complete and a hospital assessment by Stroud Water and Associates — funded through a USDA technical assistance program — is expected to be finished in mid-to-late June. The board was told the assessments will feed a strategic planning effort in July or August and a formal financial recovery plan will be delivered to the PRMC Board of Directors in August or September to guide the next fiscal year beginning Oct. 1.
Why it matters: Commissioners were given timeline and evidence that PRMC is pursuing both expense reductions and outside technical assistance before requesting additional tax support. Hospital leaders emphasized cuts to contract labor, internal cost-saving plans, and modest revenue enhancements such as a weekly mobile CT service.
Hospital leaders said they are striving not to request county tax support for operations in the coming year. Tammy described staffing and contract-labor reductions as a primary driver of lower expenses and said leadership will present a formal recovery plan timed to the county’s budgeting calendar.
The hospital also reported it had included a county-owned building in its master facility plan as a possible future use at the end of current bond terms, and commissioners and hospital staff agreed to exchange monthly income statements by email and return for quarterly in-person updates.
Commission action: No county action or vote on funding was taken at the meeting; the hospital provided updates and timelines for upcoming assessments and the recovery plan.
