HMH has favorable financial month in July

Tuesday, the Board of Directors of the Howard Memorial Hospital met for their monthly board meeting and they were informed the hospital’s bottom line was ‘very favorable’ for the month of July.

CFO Bill Craig reported the hospital’s operating cost were below budget for the month and stimulus monies helped the hospital exceed it’s budgeted revenue amount.

Craig also reported Medicaid audited the hospital’s 2018 and 2019 records and determined the hospital was underpaid by $64,000 for that period. He also stated Medicare officials had informed him that the hospital would receive an additional $333,000 in reimbursement payments.