In June, the hospital’s revenues, including non-operating income, were $1.1 million more than expenses, according to the report. And to date, the hospital reported it is $1.5 million in the black, including non-operating investments.
RMC’s financial improvement comes as the organization continues to make headway on its financial turnaround plan. That plan includes reducing overtime and some fulltime work schedules, eliminating agency and contract staff, focusing on flexing of staff and only filling emergent vacant positions, according to the report.
RMC has struggled financially in recent years due to lower patient volumes, rising expenses, cuts in government reimbursements, South Carolina’s lack of Medicaid expansion and a failure to adequately manage expenses, The Times and Democrat reports. RMC systemwide saw a loss of $3.5 million last year.
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