BCHC Recaps 2013-2014 Fiscal Year
The Buchanan County Health Center’s bottom line at the end of the 2013-2014 fiscal year, was $611,000. Total patient revenue was $36.95 million. Between contractual adjustments to Medicare, Medicaid and other insurance of $14.6 million, $1.4 million in bad debt and $131,564 in charity care, BCHC’s net patient revenue was $20.7 million.
On the other side of the ledger, total operating expenses topped $22 million. Of that total salaries accounted for $11.3 million, contracted services for $4.9 million, and supplies of $2.1 million. County tax revenue of approximately $1 million allowed BCHC to turn a negative operating margin around to a positive bottom line.
“Competition for your healthcare dollars is high,” said BCHC CEO Steve Slessor. “Reimbursement formulas are challenging. Our goal will continue to be to provide to our community great, personalized care in a very efficient manner.”
Joe Splinter, representing Eide Baily, the hospital’s auditing firm, noted that BCHC also invested nearly $2.2 million in capital assets including a CT scanner for $532,000, improvements to the radiology and fluoroscopy unit of $410,000, new patient beds for the hospital and nursing home of $104,000 and an investment in computer hardware and software of $128,000.
The BCHC Board of Trustees also approved in concept a plan to offer urgent care services to the community. According to the American Academy of Urgent Care Medicine, urgent care provides immediate medical service for the treatment of acute and chronic illness and injury. Urgent care does not replace a primary care physician, but can be a convenient option when a timely appointment is not available or, when illness strikes outside of regular office hours. In non-emergency situations, it also can provide appropriate yet less costly care than an Emergency Room.
BCHC and Medical Associates of Independence are talking through several staffing models. It is anticipated that the Urgent Care would utilize current BCHC Specialty Clinic space. Discussion is also underway to provide off-hours pharmacy services.
“Urgent Care has been a topic of discussion since I started here,” Slessor said. “I have heard from many in our community who want an urgent care option and many who are currently traveling to Waterloo or Cedar Rapids to receive this level of care. Our goal today is to get our board’s approval to move this discussion forward.”
Slessor thanked the board for approval of the concept but noted that many details of viability and implementation still need to be worked though before plans could move ahead.