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WinMed leaders report record revenues, warn Medicaid-directed payments may decline
Summary
WinMed trustees and finance staff told the Winneshiek County Board their health system posted strong operating revenues last year—driven in part by an annual Medicaid directed payment program—while flagging higher capital spending, increased bad debt and a future reduction in that Medicaid benefit unless policy changes occur.
WinMed presenters gave the Winneshiek County Board an overview of the health system’s financial year, reporting growth in patient revenue, major capital spending and caution about the long-term outlook for one federal/state funding stream.
Presenters said WinMed’s operations produced a substantial improvement in net position last year. Key figures presented included roughly $28 million in capital asset spending for the year, operating revenues surpassing $100 million, and operating income reported at about $3.6 million (roughly a 3.5% margin). The presenters also noted about 115 days of cash on hand at year-end.
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