GRINNELL REGIONAL MEDIcAL CENTER LOST MUCH LESS MONEY IN THE LAST FISCAL YEAR THAN IN THE PREVIOUS YEAR.

 

THAT’S ACCORDING TO THE RECENTLY RELEASED 2009 G-R-M-C ANNUAL REPORT…WHICH STATES LOSSES LAST YEAR 938-THOUSAND DOLLARS. THAT COMPARES TO THREE-POINT-ONE MILLION DOLLARS IN THE PREVIOUS YEAR. THESE OPERATING DEFICITS WERE CAUSED BY INADEQUATE MEDICARE REIMBURSEMENT…BUT THE REPORTSTATES THAT As a part of the Patient Protection and Affordable Care Act of 2010… the long-awaited fix to create a special payment category for SO-CALLED tweener hospitals like G-R-M-C is now law. The anticipated direct benefit to G-R-M-C will be a $750,000 payment annually for the next two years.

 

MONEY WAS ALSO SAVED BY G-R-M-C staff members. THE REPORT STATES THEY sacrificed benefits and workdays through furloughs in order to retain jobs. Most staff members worked one less day every two weeks, or one less day a week for management and administration. chief financial officer Jack Fritts IS QUOTED IN THE REPORT SAYING, “There is no doubt that the sacrifices made by G-R-M-C employees contributed to the organization ending the year better financially than had projected at the start of 2009."

 

THE REPORT ADDS THAT G-R-M-C IS AN IMPORTANT ECONOMIC COMPONENT OF THE COUNTY… PROVIDING 454 jobs that add $25.9 million to the Poweshiek County economy…AND ADDING $7.3 million on retail sales and $438,000 in state sales tax revenue.

TO SEE THE ENTIRE REPORT, CLICK THE LINK BELOW.