GRMC Releases Annual Report of Operations

GRMC closed the books on another year with patient-centered progress and advances focused to provide better care to area residents. Ten seems to be the magical number of major accomplishments cited in the 2014 Annual Report. The annual report can be found online at http://www.grmc.us/donate/who-we-are/annual-report/2014-annual-report.

“With the comprehensive campaign underway and the exceptional community support for the hospital, GRMC upgraded equipment, added new services, and expanded departments and spaces to better serve patients. We’ve created a top 10 list of achievements in 2014. I think you’ll agree that our successes advance medical care services to area residents,” says Todd C. Linden, GRMC president and CEO.

Strong community support helped GRMC experience significant successes and achieve new heights in 2014.

1. Opened the Manatt Family Urgent Care
2. Installed a new Computed Tomography Scanner
3. Installed a new daVinci XI robotic surgical unit
4. Added pulmonary rehabilitation services
5. Launched electronic web-based patient record system (patient portals)
6. Recruited a rheumatology specialist, a second ENT specialist, and two new advanced care professionals
7. Earned recognition from Healthcare Collaborative with an award for quality
8. Expanded Mental Health Care
9. Opened the Paul W. Ahrens Fitness Center in the Postels Community Health Park
10. Dedicated the Marion A. Jones Patient Care Wing

The financial picture at GRMC continued the three-year trend of insufficient reimbursement from Medicare and Medicaid insurances and contractual agreements with private insurance.  GRMC billed patients and their insurance carriers for $91,341,498 in services; however, due to required allowances and discounts – including Medicare and Medicaid, charity, and bad debts – GRMC did not collect payment for $48,748,655 of services provided.

 Total net revenue and gifts were $45.1 million. GRMC received $1.2 million from unrestricted gifts, donations, and grants to support the medical center’s operations. The total net expenses were $45.2 million. Expenses exceeded revenues by $87,793, ending the year with a negative operating balance sheet.

For the complete financial report, the lists of donors, and successes in 2014, go to www.grmc.us. Click on the “Donate” link, then the “Who We Are” and “Annual Report” link. You will find previous and current annual reports of GRMC’s activities.

For a printed copy of our donors or more information, please contact Jan Veach, GRMC office of communications and development, at jveach@grmc.us or 641-236-2946.