Putnam, Conn.-based Day Kimball Healthcare, which is looking for a partner after a recently failed merger deal, saw the number of its days of cash on hand slump when reporting its most recent results.
The total DCOH was 41.7 days for the period ending Sept. 30, with a further decline to 32.8 days in September alone. Those figures compared with 61.7 days for the year ending Sept. 30, 2021, and 69.9 days the previous year.
Tewksbury, Mass.-based Covenant Health and Day Kimball had been negotiating over years to come together when Covenant suddenly called off the deal March 13. Day Kimball CEO Kyle Kramer told Becker's the system, with its flagship 104-bed Day Kimball hospital, would continue seeking a partnership with another health system.
Day Kimball reported an operating loss for the period ending Sept. 30 of $1.8 million on revenue of $145 million compared with an operating gain of $2 million the previous year.