Gila Regional Hospital's finances are in the black for first time in 7 months

Silver City, N.M.-based Gila Regional Hospital saw a positive operating margin for the first time since July 2017, reports the Silver City Daily Press.

Gila Regional interim CFO JoBeth Vance reported Friday that the hospital's revenue after expenses was approximately $1.04 million in January 2018. Net revenue also increased in January to $5.8 million, in comparison to $5.7 million in December 2017.

"We're cutting expenses, increasing revenue, watching what we're doing," Ms. Vance told the board of trustees, according to the Silver City Daily Press.

After employing cost-cutting measures, salary and benefit expenses were down to $2.2 million last month from $3.2 million in December 2017.

The hospital saw a deficit of $4.4 million for fiscal year 2017, which was an improvement from the $5.9 million deficit in fiscal year 2016. Although the hospital saw improvement last year, hospital administration is looking to shore up finances in 2018 by improving collections.

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