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Hospital posts positive FY24 margin and mixed start to FY25; board reviews utilization and clinical-trial plans
Summary
Finance reported an unaudited FY24 operating margin near $8 million (helped by one-time MCO payments); May–July month-by-month results and July FY25 start showed volume variability and higher expenses. Operations updates included no-wait ED volume gains, clinical-trials expansion and Cerner implementation preparations.
Hospital finance leadership told the board the system finished fiscal year 2024 with an unaudited operating surplus (approximately $8 million positive margin), aided by one-time Medicaid/MCO payments in June. Monthly highlights: May showed strong inpatient activity and higher outpatient revenue but a $540,000 monthly loss; June benefitted from one-time TennCare/MCO payments producing a net margin of roughly $2.9 million for the month; July (the first month of FY25) returned to elevated expenses tied to…
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