GRMC reports financial status, visits down
Graham Regional Medical Center (GRMC) continues to struggle financially as emergency room and outpatient visits hit five-year-lows in November and December.
Chief Financial Officer Jeff Casbeer said during the Tuesday board meeting the November financials ended with a positive bottom line of $13,152, which is ahead of their projected budget by $2,574. However, Casbeer said this was due to a $287,000 payment from Centers of Medicare and Medicaid for volume decrease adjustment in 2016. To receive the payment the hospital has to prove their patient numbers were down for a specific reason.
“We received a $287,000 payment for volume decrease adjustment,” he said, “Basically, it was one of those (deals) that you had to apply for, you had to prove you had volume decreases due to something kind of out of the ordinary. We actually applied for ’15 and ’16 and they approved 2016.”
The CFO said admissions and visits numbers were dropping for the hospital. In November, GRMC had 49 admissions who stayed a combined 152 days. He said the emergency room had 468 visits during the month which is the lowest volume in the five years the hospital has been tracking the stat. He said there were 2,700 outpatient visits and 77 surgical procedures.
For more from this story see the Saturday, Jan. 26 edition of The Graham Leader.