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Sherry Medical Center reports tighter collections, ongoing March loss; board briefed on CharityCare policy and staffing
Summary
Board accepted CEO and CFO reports showing improved cash collections and lower accounts payable but a March operating loss; trustees were briefed on suspended CharityCare, radiology-driven billing delays and an IRS penalty appeal that was largely resolved.
Sherry Medical Center trustees on Monday accepted the CEO and CFO reports that showed improved cash collections and a drop in accounts payable, while hospital operations posted a net operating loss for March.
Candace, chief executive officer of Sherry Medical Center, told trustees the adult day program and supported living services are progressing and that the hospital is switching revenue-cycle vendors this summer after a five-year contract with TrueBridge. "TrueBridge is knocking it out of the park right now in their last few weeks of service, amazingly," Candace said, adding that a new company is training to take over when the contract ends in June.
Kelly, the hospital's finance lead,…
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