Washington state hospital's finances spark concern in audit

Quincy (Wash.) Valley Medical Center continues to try to improve its financial picture, after a state audit revealed  concerns about the hospital's operating deficit, according to the Columbia Basin Herald.

The audit said the hospital "had insufficient revenue to cover operating expenses, increasing the risk it will not be able to continue services at current levels." The hospital reported an operating loss of about $415,459 for 2018 through November.

Based on the audit, hospital officials said Quincy Valley Medical "needed to dramatically alter its vision for the future" to stay viable, according to the Herald.

Efforts to do so include:

  • Submitting a $875,000 maintenance and operations levy proposal, which hospital district voters approved
  • Working with Moses Lake, Wash.-based Samaritan Healthcare to provide more services in the city of Quincy
  • Interest-bearing warrants issued by Grant County, which must be paid back by the hospital
  • Contracting for a new record-keeping system

The hospital also reportedly is considering establishing a rural health clinic.

 

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