HMH has strong financial month in June

Tuesday night, Howard Memorial Hospital CFO Bill Craig informed the board of directors that the hospital was in a good financial position. He stated the hospital ended the month above budget.

The board accepted Craig’s recommendation to change the hospital’s 401 K match for employees. Craig said the new option will benefit 23 additional employees than the previous match option. The new option will also cost the hospital an additional $147,000 a year.

Craig also informed the board that the Waystar software upgrades will cost $17,196. He stated the hospital is already using the program and this upgrade will provide an additional clearinghouse service to help the hospital collect from insurance providers. The board approved the upgrade purchase when they approved the 2022 budget.