Stimulus keeps DCHS on track
IRON MOUNTAIN — Dickinson County Healthcare System shows a positive bottom line of $3.35 million through the end of May, boosted by COVID-19 assistance.
Stimulus income was recognized in May and is intended to offset ongoing operational shortfalls due to the lingering effects of the pandemic, CFO Brian Donahue said in a press release Friday.
The hospital board met Thursday and thanked the finance department for its extensive efforts.
“The DCHS team implemented a solid COVID-19 response plan that included patient-centered focus while also being aware that our revenue stream would basically cease in some areas,” DCHS CEO Chuck Nelson said.
“Fortunately, many of our requests for assistance were granted based on the data our team provided and the strategic COVID-19 response plan that was submitted. We continue to enforce the highest level of COVID-19 preventative measures as we begin to re-engage elective procedures and resume the full scope of care of our patients.”
The board reviewed a report showing operating revenues of $5,995,597 in May and expenses totaling $7,623,696 that resulted in an operating loss of $1,628,099. The loss is linked to Gov. Gretchen Whitmer’s order to discontinue elective procedures during the months of March and April, officials said.
After the calculation of non-operating revenue and expenses, including COVID-19 relief funding and subsidies, total positive income for the month was $4,046,227, bringing the year-to-date positive bottom line to $3,346,545.
“We have a great team here at DCHS and we are all very appreciative of the wonderful job the staff has been doing during the COVID-19 pandemic,” DCHS Board Chairwoman Margaret Minerick said. “On behalf of the board and as a member of this community, thank you for all you do.”
Tamara Juul, executive director of the Dickinson Hospital Foundation, reported the funding of hospital-focused initiatives included a lobby flooring and furnishings renovation, and the purchase of an industrial washer/dryer to assist with sanitizing difficult-to-obtain surgical gowns and personal protective equipment.
“Through private funding and donations, the Hospital Foundation Board of Trustees understand the importance of quality care coupled with the patient experience and we are proud to support the great efforts of our local hospital,” Juul said.
Additional May 2020 financial data:
— Cared for 148 inpatients, 32% below budget.
— Cared for 9,506 patients in the outpatient hospital setting, including 695 patients in the Emergency Department, 32% below budget.
— Cared for 5,403 patients in physician offices, 37% below budget.
— Uncompensated care for the month totaled $344,289.