The finances of Greenwood Leflore Hospital continued to improve in April, mostly due to holding the line on expenses as revenue increased only slightly from last year.

The hospital lost $787,261 in April, compared with $1.12 million in April 2018. Total expenses for the month were $9.69 million, compared with $9.88 million in April 2018, an improvement of about $190,000. Revenue for the same period increased about $49,000 to $8.86 million from $8.81 million in 2018.

For the first seven months of the fiscal year, which started Oct. 1, 2018, the hospital lost $3.57 million, which is a $1.43 million improvement over the $4.99 million it lost in the first seven months of the 2018 fiscal year.

The improvement came in control over expenses, which declined by $2.72 million to $68 million from $70.27 million in the previous fiscal year. At the same time, revenue decreased by $1.23 million from $65.2 million in 2018 to $63.97 million in the current fiscal year.

A supplemental analysis of the hospital’s cash position, presented by Chief Financial Officer Dawne Holmes, showed the hospital has been able to increase its cash balance by more than $2 million since the beginning of the year. The cash balance increased by $617,145 just since March.

In the first seven months of its fiscal year, the hospital ended April with $23.04 million cash and cash equivalent on hand, compared with $18.56 million in the same period of the 2018 fiscal year.

In the fiscal year to date, the hospital has used $2.77 million from its cash reserves to cover expenses. That is an improvement of $3.1 million from the same period in fiscal year 2018.

•Contact Gavin Maliska at 581-7235 or gmaliska@gwcommonwealth.com.

(1) comment

Charlie

When you have no Doctors wages coming out of the total,It has to show some improvement. Can't wait to see how it goes when Freddie White Johnson belittles Hargrove the way she has done everyone else.

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