Winter storm caused HMH to be below budget for February

Last week, Howard Memorial Hospital CFO, Bill Craig, informed the Board of Directors that the hospital’s financial snapshot had some positives and some negatives.

Craig stated the hospital had 35 days of revenue in Accounts Receivable and 183 days of cash on hand.

HMH currently has a balance of $13.6 million in the bank.

Craig also reported the hospital lost one week of business due to the winter storm in February. He said the inpatient average daily census, outpatient visits, emergency room visits and surgery cases were all below budget for the month of February.

However, Craig announced the hospital had received some good news when it came to the Medicare and Medicaid Cost Reports.

Craig also stated HMH will know if it’s PPP loan of $2 million will be forgiven later this year.