Petersburg Medical Center board reviews July finances, construction progress and pending certificate-of-need questions

The Petersburg Medical Center board on Aug. 28 reviewed July financial results, construction progress at the new work building and next steps on the hospital's certificate-of-need application and grant proposals.

Board members were told operating revenues were slightly under budget for July but nonoperating and capital grants produced a positive bottom line. Jason (finance) reported gross revenues of about $2,000,730, roughly $40,000 below budget, and said total operating revenues were about $73,000 under budget. Nonoperating and capital grants totaled about $1.3 million, which contributed to a positive overall result. The board was also told that annual insurance premiums of about $300,000 were paid in July, reducing operating cash on hand for the month.

The financial update placed other activity in context: clinic visits were 790 in July versus 833 a year earlier; radiology procedures were about 253; emergency-department visits were 102 for July; hospital days were 12 (down from 34 year-over-year);…