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Finance committee approves December financial statements; Cerner implementation and uncertain state payments weighed on cash
Summary
The finance committee approved the hospital's December 2024 financial statements after staff reported higher expenses tied to the Cerner implementation and continued uncertainty about state reallocated payments.
The finance committee voted to approve the hospital's December 2024 financial statements after hearing staff analysis of revenues, expenses and cash flow.
Keith Moran, the controller, told the committee the Cerner electronic health record implementation had driven material costs in the period. "The Cerner project so far this year has probably been about $3,000,000 of expenses related to the Cerner project," he said. Moran attributed increases in December expenses primarily to Cerner implementation costs (including contract labor and project-related salaries), higher contract labor expense and higher utilities.
Moran summarized operating variances: inpatient revenue was about…
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