HMH Board Meeting

Last week, Howard Memorial Hospital Board of Directors held their regular monthly meeting. 

During the meeting, CFO Bill Craig reviewed some worksheets that were a part of the additional report that was requested by the board. Craig started with discussing what will be the impact of Husqvarna on HMH and how he analyzed it. 

Craig stated that he looked at it in terms of cash, not charges, not volume, but just incoming cash receipts. Craig provided a breakdown and stated that in the hospital it equates to $182,000 in reimbursement, Dr. Caldwell’s clinic $21,515, and surgeons $7,918 dollars. Another portion that was analyzed by Craig was the patients whose spouse is guarantors and works at Husqvarna but had other insurances other than Husqvarna insurance. That amount came up to $95,000 in cash receipts which makes it a total $306,000 for 12 months’ worth of pay claims. Craig told the board that this is material to HMH and part of that will be incorporated in HMH 2024 budget. 

Craig also had good news to tell the board of directors which was in regard to Medicare/Novitas auditing their 2021 Medicare cost report which was completed, and Craig said he received the results a week prior to the meeting.

Craig also reported that filed a 2021 Medicare cost report, he requested $305,000 dollars, after the settlement process, HMH actually received $358,000 which was more than what Craig asked for. Craig said after the audit was finished and there were no significant adjustments to the Medicare cost report and had a really good outcome, he only had to pay back $2200 dollars. Craig said he was pleased with the outcome.