FFH books $1.1 million in surplus
Franklin Foundation Hospital ended its fiscal year in September with a $1.1 million surplus, according to reports by the hospital’s Chief Financial Officer Ron Bailey during Hospital Service District 1’s monthly meeting Thursday.
September net income was $210,010 as compared to a projected $63,992 loss. Bailey said much of the surplus was driven by an almost $255,000 Medicare reimbursement payment.
Gross patient revenue on the month was $3.4 million which was almost 22 percent or $611,456 ahead of projections. Total inpatient revenue was $136,516 or 14.17 percent over budget. Inpatient acute revenues were at $846,607; swing bed revenues at $253,210; and outpatient revenues at $1,998,600.
Total expenses in September were just over $1.8 million that included almost $894,000 in salaries.
In other discussions the board learned from Chief Executive Officer Parker Templeton that the hospital received the 2012 Excellence in Patient Care Award from the Studer Group health care consultant.