The county-owned hospital ended its fiscal year in the black, according to early and unaudited financial statements for the institution.
Citizens Medical Center did not lose any cash in fiscal year 2019, which ended June 30, the hospital’s Chief Financial Officer Duane Woods told board members at a meeting Wednesday.
“Bottom, bottom line, we beat our budget expectations by $6 million,” Woods said.
When the board of the 320-bed hospital passed its operating budget last year, the health care facility had expected to lose almost $6 million during the 2019 fiscal year. Instead, thanks to insurance and FEMA payouts after Hurricane Harvey and a review of the hospital’s expenses, the hospital is back on stabler financial footing.
“Guess what that means? (We’re) back in the black. We finished this fiscal year with black ink,” Woods said.
“This is one of the happiest reports I’ve been able to give,” he added, before showing board members the special socks decorated with dollar signs that he’d worn to commemorate the hospital’s improved financial status.
In 2018, the hospital lost $14.6 million.
Board members also learned about the hospital’s contract with Unidine, the company hired last year to run the hospital’s cafeteria and dietary program. The company debuted its new room delivery service My Dine, in the hospital Tuesday.
The new system outsources all food preparation to Unidine and frees up nurses from needing to spend time delivering meals to patients. Instead, dedicated employees take patient orders and deliver meals.
The board of managers also approved the hospital compliance plan and voted to elect the same board officers to continue their positions for the next year.