|Revenue up for county-owned nursing home|
|Written by Sentinel-Tribune Staff|
|Friday, 12 July 2013 09:09|
Wood County Commissioners learned Thursday that revenue of the county's nursing home surged in 2012, though gains are expected to fall back in the future.
Wood Haven Health Care earned $406,513 in its last fiscal year, which ended in June, up from $107,941 in 2011, according to a summary presented to commissioners by Denise Gadomski of consulting company Plante Moran. The non-profit facility is owned and operated by the board of commissioners.
The report credited the jump to an increase in Medicaid reimbursement, drastically decreased operating expenses and an increase in patient revenue.
Expenses were reduced by $289,381, largely due to a lack of significant capital projects. Medicaid reimbursement increased from $146.04 to $172.22 in July 2012.
Both figures are expected to roll back soon, with a projected fall in Medicare reimbursement and need for more expenditures this year.
Gadomski reported the facility had solid state evaluations to receive the maximum reimbursement bonus, and it received an overall rating of four stars out of five.
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