GRMC sees financial improvement, set to break record

Graham Regional Medical Center has seen financial growth in the first four months of the fiscal year, being able to stay above budget, decrease debt and increase cash on hand.

Jeff Casbeer, GRMC’s Chief Financial Officer, told the Board of Directors on Tuesday, Feb. 18 that they have been able to keep operating costs lower. In the month of January, the hospital was above budget by over $480,000.

“So far, through the first four months anyway, we’ve been able to create some cash and pay for some of the capital stuff we’ve been talking about,” Casbeer said.

He spoke to the board about the financials specific for the month of January, which Casbeer said was a very good month.

“Gross revenue, above budget on the outpatient side, though inpatient wasn’t very strong,” Casbeer said. “(...) radiology visits were also up on the outpatient side, which increased revenue by about $41,000. ER revenue was up by about 27%, since we had about a 70 visit increase.”

Casbeer spoke about how they had budgeted for around 500 to 510 ER visits in a month but over December and January GRMC has seen 583 and 565 visits, respectively.

“We have seen fairly good growth in the ER,” he said. “It’s kind of the cold weather months, if you will, and we had some snow days where there were some physician offices closed down and some other things that went on, that probably impacted that a little bit.”

For the full story, see the Saturday, Feb. 22 edition of The Graham Leader.