FFH November net income at $320K

Net income of $320,624 was realized in the month of November by Franklin Foundation Hospital.

Hospital Chief Financial Officer Ron Bailey told Hospital Service District 1 Board of Commissioners Thursday that the bottom line reflects $207,445 in tax receipts as its share of a St. Mary Parish settlement of a long-standing dispute involving six pipeline companies. Under protest by the companies, the taxes were paid and held in escrow until the case was settled, he said.

Also, the month’s non-operating income included $262,244 from the rural upper limit funds totaling just over $3.1 million that were received in October.

Some $3.4 million in gross patient revenue was $136,970 or 4.16 percent over budget. Total in-patient revenue in the amount of $1.1 million was $42,042 or 3.92 percent over budget while $727,728 from in-patient acute revenues were $77,651 or 9.64 percent under budget for the month. Out-patient revenue in the amount of $2.03 million was $130,451 or 6.86 percent ahead of budget.

Two months into the fiscal year, the year-to-date bottom line is at $798,079 as compared to $86,347 in budget projections.

In other discussions during the board’s monthly meeting, Chief Executive Officer Parker Templeton said bids were opened earlier in the day on the medical office construction contract.

He said five bids were received that ranged from $2.65 million to $2.765 million. He added that he would take the bids under advisement and present the board with a recommendation sometime within the next month.

The facility will provide clinical space for as many as five physicians as well as the hospital’s wound care clinic.

Plans are for Drs. Donna Tesi, general surgery; Steven McPherson, internal medicine; and Rebecca Accardo, OB/GYN to move their practices to the building.

There also will be space reserved for future physician utilization, Templeton said.

The construction period on the 13,000-square foot building is estimated at one year.

St. Mary Now & Franklin Banner-Tribune

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