Pharos-Tribune

February 3, 2013

LMH says its finances are healthy

Hospital’s year was “incredibly good” despite December expenses.

by Caitlin Huston
Pharos-Tribune

LOGANSPORT — Logansport Memorial Hospital reported a healthy financial year despite increased expenses in December.

Hospital CEO Dave Ameen said the hospital had a “incredibly good” year due to revenue coming in from state programs. The extra expenses came from investing in hospital equipment, employees and information systems, he said.

The hospital reported a profit of $3.9 million in December, but Ameen said the operating expenses came in 1 percent over budget at $4.7 million.  

“Basically more cash went out for the month than went in,” Ameen said.  

Ameen said the hospital did not see as many patients as usual in December and had additional expenses coming from capital expenses.

Some of the expenses came from the hospital assessment fee, which charges the hospital about $200 for every patient each day, he said. Otherwise, Ameen said expenses were driven up by items like professional fees, depreciation and salaries.

Julie Berndt, chief financial officer for the hospital, said because the hospital outsourced its ambulance service to Rural Metro, some of the EMTs were transferred to work in the emergency room, which wasn’t part of the budget.  

“It’s an excess expense in the emergency room,” Ameen said.  

However, Ameen said he was happy with the year’s finances.

“We performed very well financially,” Ameen said.  

After investing in information systems so that the hospital can transfer its records over to an electronic system, he said the hospital was reimbursed by the government for some of those expenses.

Ameen said the hospital also bought more equipment than budgeted because of the good financial year.

Caitlin Huston is a staff reporter of the Pharos-Tribune. She can be reached at 574-732-5148 or caitlin.huston@pharostribune.com.

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