Authority reports improved margins, revenue gains and denials-management work; committee approves February financials
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Summary
Accounting manager Cole Griffith reported February 2026 revenue and an improving year-to-date operating margin; the committee approved the financial statements and heard a revenue-cycle update highlighting denials-management work with vendor Cofactor and staff lead Faith Reid.
Coleman 'Cole' Griffith, the Authority's accounting manager, presented the February 2026 financial statements and called February "a strong month." He reported gross patient revenue of $25.8 million, net patient revenue of $6.6 million (about $911,000 favorable to a $5.7 million budget), total revenue of $13.8 million, and an operating margin of $107,000 for the month. Year-to-date operating margin was presented as roughly $4,285,000 — a presenter-provided improvement figure compared with the prior year.
Committee members asked why inpatient revenue exceeded outpatient for the month; Cole attributed the shift to rate increases from Medicare and Blue Cross Blue Shield and to DRG-related inpatient activity. On the expense side, Cole said February expenses were about $13.7 million, roughly $1.1 million over budget but down from January's expense level.
Dr. Blackledge and staff also described revenue-cycle improvements: cash performance trends, an unbilled metric of 4.47 for February, and expanded denials-management work led by Faith Reid in partnership with a vendor called Cofactor to reduce denials and speed collections. The committee moved to approve the financial statements and carried the voice vote. The chair scheduled the next meeting for 04/30/2026 at 3 p.m.
