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Finance update: hospital reports month loss, metro subsidy and payer mix central to operations; Midtown clinic lease likely not renewed
Summary
Hospital finance staff reported a $1.1 million loss in April and said a $60.7 million Metro subsidy remains a central revenue source; leadership recommended not renewing the Midtown Clinic lease amid multi-year operating losses and the board approved a wind-down through June 30.
Keith Moran and Dr. Blackledge presented the April financials and a payer-mix analysis and told the board the hospital continues to operate at a loss while the Metro subsidy remains a major funding source.
Moran reported April net loss of $1,100,000 and a year-to-date net loss of $19,900,000. He said inpatient admissions, outpatient visits and case-mix index had mixed performance against budget and the cath lab remains an underperforming revenue source. Dr. Blackledge and finance staff…
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