Eureka Springs Hospital to receive Medicare reimbursement
Eureka Springs Hospital will receive $690,000 from last year’s Medicare reimbursement, chief financial officer Bill Couch reported Aug. 16.
Couch told the Eureka Springs Hospital Commission that he recently filed the hospital’s Medicare cost report for 2020 and expects the reimbursement to come through as soon as the report is accepted. That shouldn’t take more than two months, Couch said. Couch estimated that the hospital has $400,000 in reimbursements from Medicare so far in 2021.
The hospital’s cash balance at the end of July was $1,144,793 compared with $1,266,699 at the end of June, Couch said. He said that’s a decrease of 9.6 percent.
“Our cash position is eroding, but we do have an offset with the cost report receivable,” Couch said.
The hospital’s gross revenue at the end of July was $809,000, Couch said, compared with $892,000 at the end of June.
“So we’re off almost 8 percent from last month, but we’re 77 percent up year-to-date,” Couch said. “I’m pleased with that. Things are trending nicely, but I’m afraid of this COVID outbreak and what it may bring to the financials moving forward.”
Earlier in the commission meeting, chair Tyson Burden reported that the hospital has a nursing shortage. Burden said the hospital considered hiring traveling nurses, but the cost is astronomically expensive. Couch said he spoke with hospital CEO Angie Shaw, and they agreed to increase nurse salaries and offer bonuses for nurses who work extra shifts.
“I’m actually kind of glad we did hire a CEO that’s an RN. Even though we didn’t want her to work as an RN, it’s been very fruitful and helped us a great deal with that over the past few weeks,” Burden said. “We’re intensely looking at how to get more nurses.”
Treasurer Kent Turner presented the finance report, saying the hospital commission wrote zero checks between June 30 and July 31. The checking account stands at $17,019.01, Butler said. He said the money market account received $430.15 in interest, bringing the total to $1,447,481.53. The CD account received $2,183.67 in interest, Turner said, for a total of $435,780.98.
At the end of the meeting, Burden reported that the hospital’s vaccination rate has exceeded 82 percent.
“That’s good.,” Burden said. “I just want to praise everyone for their hard work
The commission’s next regular meeting is scheduled for 6 p.m. Monday, Sept. 20, at The Auditorium.