Eight months into its fiscal year, Nevada (Mo.) RegionalMedicalCenter has reported a net loss of $618,296, a significant improvement upon its net loss of $1.8 million at this time last year, according to Nevada Daily Mail.
"Compared to a year ago, we kept our expenses at the same level but boosted our income by just over $1 million dollars," MikeHarbor, CFO at NRMC, told the hospital's finance committee, reports Nevada Daily Mail.
Mr. Harbor largely attributed the income boost to the more timely submission of claims and persistent follow-up and collections efforts.
Barring any catastrophic events, Mr. Harbor hopes to finish the fiscal year with either a small net loss or a small net gain.
Standard & Poor's Ratings Services most recent credit report upgraded NRMC from a "B" rating with a negative outlook to a "B" rating with a positive outlook, according to the article.