Port Angeles, Wash.-based Olympic Medical Center reported a 2.5 percent operating margin in the third quarter of 2011, higher than hospital officials expected, according to a Peninsula Daily News report.
Hospital officials warned that the hospital's long-term financial outlook still remains uncertain, according to the report. Its operating margin for the year stands at 1.9 percent. Normally, OMC budgets for a 4 percent margin, but it budgeted for a 2 percent margin this year due to the economic instability.
OMC's net revenue for the third quarter was $868,000, and for the year, it is $1.9 million. According to the report, the hospital's accounts receivable is at 49 days, well below the state average of 63 days.
Healthcare Finance Group Provides $27M Line of Credit to JFK Medical Center
Children's Hospital of Philadelphia Sells $270M in Bonds
Hospital officials warned that the hospital's long-term financial outlook still remains uncertain, according to the report. Its operating margin for the year stands at 1.9 percent. Normally, OMC budgets for a 4 percent margin, but it budgeted for a 2 percent margin this year due to the economic instability.
OMC's net revenue for the third quarter was $868,000, and for the year, it is $1.9 million. According to the report, the hospital's accounts receivable is at 49 days, well below the state average of 63 days.
Related Articles on Hospital Finances:
Minnesota's CentraCare Health System Posts $51M Net Profit in FY 2011Healthcare Finance Group Provides $27M Line of Credit to JFK Medical Center
Children's Hospital of Philadelphia Sells $270M in Bonds