WYNNE — The financial picture isn’t as rosy now at CrossRidge Community Hospital following a mid-year revenue review.
CrossRidge Administrator Garrett Morgan told the hospital board yesterday that a review of revenue deduction calculations resulted in a substantial loss for April. He said the hospital also received a bill from St. Bernards covering several months of services, which contributed to the financial impact.
Morgan said CrossRidge is now showing a small year-to-date loss compared to this time last year, reflecting a reduction of about $560,000 in other operating revenue. He attributed the decrease primarily to the 340B drug program and sales tax revenues.
Despite the setback, Morgan said the hospital returned to profitability in May.
He also updated the board on several operational improvements, including new virtual smart room technology and mini-split HVAC units being installed at the facility. The smart room technology, provided through the Delta Region Community Health Systems Development Program, will expand telehealth services. The HVAC upgrades in the Med/Surg unit were partially funded by the CrossRidge Auxiliary.
Morgan also discussed a recent announcement by Quorum Health, parent company of Forrest City Medical Center, which plans to transition its facilities from for-profit to nonprofit status, and potential funding opportunities through the Arkansas Rural Health Transformation Program.
