Hospital officials: financial situation is improving

February 6, 2015

By Jay Nolan


Publisher

“The bad bleeding is behind us. We are not in a panic anymore.” That’s how Knox Hospital consultant Greg Britt summed up the Knox Hospital’s financial situation during a presentation to the board at Monday’s meeting.

Britt made those comments during a nearly two-hour session, after board members had extensively reviewed details of the hospital’s financial situation. “Our next cost report should be favorable and comparable to this year.” Britt added.

Several factors, such as government program reimbursement calculations, complicated federal billing procedures, multiple revenue sources and highly regulated cost reimbursement make tracking hospital finances a very complex process. But, overall, Britt and several board members feel the indicators for the facility are turning more positive.

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