All three SMC entities profitable in May
June 23, 2017
For the second time this year, the Share hospital, convalescent home and The Homestead made profits. The operating cash balance for May was $468,519, which represents 13.4 days of operating expenses, excluding depreciation. The accounts receivable balance was up $4,406 to $2,900,273.
The accounts payable balance for May was $673,845. This represents 43.4 days of operating expenses excluding costs related to salaries, benefits and depreciation.
Gross patient revenue for the hospital for May was $2,011,759, which was a $147,842 increase compared to the prior month. Nursing home revenue increa...