PMC posts positive operating month; board hears grant updates and AR improvements

Finance Director Jason presented October volume and revenue results and an operational overview to the board.

Jason said clinic visits were nearly 1,000 for October and radiology, lab and rehab services were strong. He reported monthly revenues of $2,837,000, roughly $66,000 above budget, and net patient revenues of $2,380,000, about $166,000 above budget. Operating income for the month was approximately $251,000, and capital transactions produced a favorable change in net assets for the period.

Jason credited insourcing the business office with reducing accounts-receivable days from about 82 to roughly 65–68, which allowed PMC to collect previously reserved bad-debt accounts and improve monthly cash flow. He also noted activity in the pharmacy rebate/340B program and that several grants and contract negotiations (including payer renegotiations) contributed to results.

Phil and committee reports confirmed the board’s mental health trust grant for telehealth and in-person behavioral-health services, and staff said HRSA grant funds are supporting work-building payouts and design work for the next construction phase.

Board members asked no additional financial questions during the presentation. Staff said they will bring the audit and final cost report for the year to the January presentation and may propose a revised budget later in the fiscal year to reflect higher-than-expected expenses from staffing and supplies.

Next steps: finance will present the audit results and any budget adjustments at the January meeting and continue monitoring payer contracts and grant opportunities.