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Central Peninsula Hospital reports higher volumes, more uncompensated care and expanding behavioral-health services
Summary
Central Peninsula Hospital told the Kenai Peninsula Borough Assembly that FY2025 saw higher patient volumes and revenues but lower collections per dollar and higher operating expenses; the nonprofit increased financial assistance and expanded behavioral-health capacity and mobile-crisis staffing.
Central Peninsula Hospital (CPH) presented its FY2025 unaudited financial report to the Kenai Peninsula Borough Assembly on Oct. 28 and highlighted both operational growth and budget pressures.
Angela Hennigan, CPH chief financial officer, said gross patient charges rose about 11% year over year while net patient service revenue increased roughly 7%. “These numbers are unaudited,” Hennigan said as she introduced the FY25 slides. She noted CPH collected about 37¢ on the dollar in FY25 versus roughly 39¢ in FY24 and that operating expenses rose because the hospital staffed for a 17% increase in inpatient and swing-bed volume, relying in part on contract labor.
Hennigan described a roughly $11.8 million year-over-year decline in net income driven by the combination of lower collections and higher operating costs. The hospital also reported a $3 million increase in financial-assistance awards and a net increase in uncompensated care of about $2.5 million; the organization said uncompensated care amounts to roughly 3% of gross revenues in the latest year.
COO Carl Hertz stressed service expansions: the hospital has added psychiatrists and psychologists, is building a mobile-crisis response (currently two to three staff, not yet 24/7) and has added specialty surgical providers. Hertz highlighted community programs including walk-in mammography events (81 women screened leading to six diagnostic mammographies), health fairs with hundreds of participants (739 blood draws across recent events) and a partnership with the Soldotna Field House that registered 165 seniors for free walking sessions.
Hospital leaders said cash and cash equivalents rose by about $5 million to approximately $60.5 million, translating to roughly 81 days of operating cash at fiscal year-end (an earlier quarter estimate was about 85 days). The hospital emphasized these are unaudited figures and said it will provide audited statements when they are complete.
The assembly thanked the presenters and asked follow-up questions about the mobile-crisis timeline and outreach to seniors. No formal action was taken; the presentation was accepted for information.
