October 30, 2020

Mississippi hospital cuts losses, still $2.78 million in hole over last six months

A Mississippi Delta hospital is still losing money, but less than before.

The Greenwood Commonwealth reports finances of the Greenwood Leflore Hospital showed improvement in March. The hospital has lost $2.78 million over the first six months of its budget year, down from $3.88 million during the same period on the previous budget year.

Chief Financial Officer Dawne Holmes says March’s loss was $318,000, less than half the $759,000 loss in March 2018.

Officials are trying to turn around losses as the hospital drains its savings account. Hospitals outside Mississippi’s largest cities have struggled with reimbursement.

Improvements mostly came from reduced expenses, with revenue continuing to fall. The hospital is seeing less revenue from surgeries, although revenue from its emergency room is increasing, as fewer people leave without being treated.