Samaritan makes money in first half of 2023
Samaritan Healthcare made money in the first half of 2023. Staff say the return to a more typical pattern of usage for the hospital and clinics is helping to make things more predictable than in the years of the pandemic.
FILE PHOTO
MOSES LAKE — After a few years of discombobulation, a more typical pattern of hospital use — and because of that a more typical pattern of revenue — is starting to return at Samaritan Healthcare.
“What we’re starting to see is we’re getting back to that cycle, where you’d see that push (of patients) at the beginning of the year, and then you see that lull,” said Chief Administrative Officer Alex Town. “There were so many midsummers where we were just slammed, and we couldn’t figure out why.”
June 2023 reverted to the more typical pattern, with fewer patients being admitted. What that means, Town said, is that hospital and clinic revenue dropped in June, and is expected to drop in July. Gross revenue for June was below the budget projection, but for the year is about 2% over the budget projection.
Town reviewed the six-month results for Samaritan commissioners at the regular board meeting July 25.
Samaritan made money in June, about $174,000. For the first half of 2023, net revenue is ahead of budget projections by about $2.5 million.
Changes in patient insurance coverage have affected the hospital’s income, Town said. Typically about one-third of the patients who have insurance are Medicare patients, one-third are Medicaid patients and one-third have commercial insurance. The percentage of Medicare patients has been trending up, and for 2023 to date, it’s at 37%, Town said. Typically Medicare reimbursement is at lower rates.
“This trend continues,” Town said. “I don’t know if that’s going to change — it may be something we’re just going to have to work with.”
The percentage of Medicaid patients has remained about the same, Town said, and the percentage of self-pay patients has decreased.
Expenses are lower than budget projections. Expenses for temporary manpower are still above the budget projections, however. Samaritan has spent about $5.97 million on temporary employees through the first half of 2023.
Town said Samaritan has hired temporary physicians for its hospitalist program, pediatrics department and backup coverage for obstetrics patients. Temporary nurses have been needed in the medical-surgical units, obstetrics unit, emergency room and intensive care unit. Temporary employees also have been in demand for respiratory therapy and lab services.
Director of Human Resources Steven Brooks said the rates for temporary nursing employees have been stable for about the last four months.
“We have a number of (people) that applied (for jobs), local applicants,” Town said. “We’re hoping to get those hired on later this year.”
Cheryl Schweizer may be reached at cschweizer@columbiabasinherald.com.