May revenues at Skiff Medical Center in Newton, Iowa, increased since April, but the hospital is still in the red, according to a Newton Daily New report.
According to the news report, Skiff Medical Center's revenues from April to May increased 1.1 percent to $5.4 million. However, the hospital is still facing an operating loss of $468,000, with total year-to-date losses of $551,000.
Skiff CFO Mike Anderson said the hospital's high operating loss is due to higher supply costs and agency costs. He also noted the operating loss is unusually high due to some "irregular costs," and other opportunities for growth, including a possible geriatric psychiatric unit and wound care unit, may mean future revenue increases.
Read the news report about Skiff Medical Center's finances.
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