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Trustees receive financial update; $275,000 Medicare overpayment was clawed back and repaid
Summary
Board leaders reported operating cash just over $3.2 million, accounts receivable above $4.2 million, February net income $207,795, and a $275,000 Medicare overpayment that was clawed back and repaid between March 3 and March 16; trustees approved routine agenda items and personnel actions.
The Board of Trustees received a financial report that showed modest operating liquidity but a recent Medicare overpayment that briefly strained cash flow.
The presiding trustee reported that operating cash for February was a little over $3,200,000 — about 65 days of operating expense — and hospital accounts receivable were a little over $4,200,000, an increase of about $560,000 during the month. Gross patient revenue for the period was…
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