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Hospital reports March financials: revenue shortfall, operating loss and signs of recovery after Cerner go-live
Summary
Hospital finance staff reported a net operating loss in March, a year-to-date revenue shortfall, but positive cash flow driven by Metro contributions and early recovery in collections after a Cerner electronic health-record go-live.
Hospital finance staff presented March financial statements showing a monthly net loss, a year-to-date revenue shortfall and improving cash collections after an electronic health-record (Cerner) go-live earlier in the year.
Finance presenters said total revenue for the month was about $22.5 million and that revenues were roughly $5.7 million below budget year-to-date. The presenters reported a net loss for the month of about $1.4 million and said operating margins remain negative despite early signs of improvement from cost-reduction steps initiated 45…
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