The $1.5 million financial difference at Candler County Hospital is due in part to the continued growth of business at the hospital but in large part due to the Georgia HEART Tax Credit.
Reviewing 2019 as compared to the prior year, Hospital CFO Will Bennett told the Authority during their January meeting, “We’ve had a nice turnaround from 2018,” Bennett said, noting increases in revenues, average patient census, observation patients and swing bed patients.
“We ended the year with a net loss from operations of $362,000 compared to $1.9 million net loss in 2018,” Bennett said. The increase in revenue was due primarily to the Georgia HEART, from which the local hospital received a lot of “undesignated” funds because of their ranking as the second “most neediest” hospital, Bennett explained.
“Georgia HEART has definitely been a blessing, along with all the hard work all of our people have put in.”
“We want everybody to know that we are very appreciative of everyone in the community helping us out, and those outside the community as well,” said Hospital CEO Michael Purvis. “You don’t see this at every rural hospital.”
In other business of the meeting, the first under newly-elected Chair Brian Wood, recently appointed Authority members Terry Manuel and Pam Smith were sworn in.
The Authority also approved the purchase of eight stretchers and 12 beds for $60,000 and approved the Fiscal Year 2020 budget.
In looking ahead, Bennett told the Authority that the FY2020 budget is “pretty aggressive.” The budget, which will also rely on HEART donations, anticipates an increase of $2.8 million in net patient revenue.
To achieve that, Bennett said, the hospital is budgeting an increase in the average daily patient census of the hospital.