— from sanjuanislander.com
Beth Geiger, Peace Island Medical Center (PIMC) Director of Administrative Services delivered the semi-annual report to the San Juan County Public Hospital District (PHD) No. 1 Board of Commissioners at its August 22, 2018 meeting. The subsidy, the PH District provides to PI Medical Center was $511,294 for the first six months of the year.
Operating Revenues were: $2,654,414. Expenses were $3,599,151. That results in a $940,738 loss. Adding in the $511,294 subsidy and adding $22,134 in depreciation reduces the loss to $451,578.
When PIMC factors in the differences between billings and payments for Medicare ($2,980,192) and Medicaid ($1,169,704), plus bad debt and charity ($371,822), the loss increases to $4,973,95. The full report can be read here.
Geiger said most of the loss is due to Medicare changing its payment rate as of February, an increase in the number of Medicaid patients and since PIMC has been operating for five years there is less depreciation.
(To read the full report, go to sanjuanislander.com/news-articles/report-pimc-lost-5-million-jan-1-june-30-2018 )
Thanks to Pierrette Guimond
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Wow, looks rather dim and a bit confusing.
The finances talk about revenue, expenses, the subsidy and depreciation adding up to a loss of about $451K. This includes revenue from Medicare and Medicaid.
What is confusing PIMC Other Medicare of $2.98MM and PIMC Other Medicaid of $1.2M. Charity and Bad Debt is listed at $0.4MM. How do these fit into the revenue and expenses calculation? Is this the difference between what PIMC bills and what Medicare and Medicaid pays?
Does PIMC has a way to bill their patients in Bellingham above what Medicare and Medicaid allows?
Is PIMC asking San Juan Islanders to pay this difference?
Just would like to have a clearer picture.
This information on “balance billing”, which is when a physician or other provider can bill a patient for the cost of services beyond what Medicare reimburses, may be helpful to readers.
https://www.aarp.org/content/dam/aarp/ppi/2017-01/medicare-limits-on-balance-billing-and-private-contracting-ppi.pdf