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Posted on Feb 29, 2016

Chairman: QVMC should be in the black by mid-year

Despite a nearly $116,000 loss to start off the year, the chairman of the Quincy Valley Medical Center Board of Commissioners said the board is dedicated to having the hospital in the black by mid-year.
“I can almost guarantee by August we’ll be in the black,” chairman Randy Zolman said. “The board’s committed to getting the place back in the black.”
Just how will the hospital get there?
That depends on the results of a community survey that is scheduled to go out in early March, Zolman said. The survey, which will be mailed to more than 5,000 people living in the hospital’s taxing district, asks what services citizens would prioritize at their community hospital.
“They will help us decide how to get to the black,” Zolman said.
News of the hospital’s January loss was given at the board’s regular meeting on Monday. While the $115,766 loss is considerably higher than the $19,402 loss projected during the budget-planning process, the good news is that the loss is nearly $129,000 less than what was lost at this time last year, according to hospital numbers.
Revenues in January also were up compared to January 2015. The hospital reported net operating revenues of $630,211, compared to $558,554 during the same time last year.
Commissioner Don Condit said the hospital’s warrant line is at just over the $3 million cap set by Grant County commissioners. The hospital also has a Medicare payment coming up.
“It will be a struggle to maintain close to that $3 million mark,” Condit said.
Hospital officials met last month with John Ayoub, the finalist for the open CEO position. However, the board decided last week not to offer Ayoub the job, Zolman said. Instead, interim CEO Jerry Hawley, who was hired in December to fill the position for three months, will stay on indefinitely, Zolman said.


— By Jill FitzSimmons,

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