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Hospital board cites improving revenue and confirms $3 million loan to fund capital projects
Summary
At a late-November board meeting, hospital leaders reported October as their second-best revenue month in 12 months, noted AR days fell from 47.2 to 34, and said the city approved a $3 million loan the board plans to use for capital projects and equipment purchases.
The Alva Hospital Authority board heard financial updates and confirmed plans to use a recently approved $3 million city loan to fund capital projects.
Candace, the hospital’s chief executive officer, told trustees the hospital had a strong October, calling it “the second best in 12 months,” and said net revenue was up 16% since January while accounts-receivable days fell from 47.2 to 34. She thanked the city council for approving a $3 million loan that she said “will go towards helping us fund those projects, those capital…
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