Hospital

Magnolia Regional Medical Center ended the month of September with a positive EBITDA of $47,995.

Net revenue for the month was $2,307,940. Financial director Roxanne Stewart said inpatient admissions were down to 72. She said clinic visits were 1,207. There were 113 surgeries.

Emergency room visits were down to 818.

The hospital had a non-operating income of $9,216,099, including $59,645 in sales tax revenue and $9,147,351 in grant revenue.

Year to date, the hospital has a positive EBITDA of $738,918.

Gross revenue is $61,414,902, with a net revenue of $25,615,091 after contractual allowances and charity care deductions of $329,828.

The net labor expense is $17,651,378. Non-operating income for the year is $12,256,478 including $615,761 in sales tax revenue and $11,529,703 in grant revenue, mostly COVID-19 related.

In other board news:

Board approved to increase computer server capacities from 31 TB to 47 TB. This would be at a one-time cost of $169,489.

Chief operating officer LeeAnn Scheer said data storage needs have increased, especially with imaging from the orthopedic clinic. This should be adequate for the hospital for at least five years.

UAMS has withdrawn from the current residency program to institute a new residency program where the students would complete their second and third years on a rural track in Magnolia. The earliest the new program could take effect is 2024. The Magnolia clinic will remain open at this time.

The next meeting will be Nov. 22.

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