PMH Hopes To Turn The Corner With A New Budget And A New Management Team
Marlinton, WV – The trustees of Pocahontas Memorial Hospital are hoping that the 2010-2011 fiscal year will be better than the last. Last Thursday was the board’s first meeting of the fiscal year. While the meeting was low key, several significant changes have taken place at the hospital.
At the table were members of the Hospital’s new management team, Barbara Lay and Steve Whited. Both are from Minnie Hamilton Health Care in Calhoun County. At their meeting in June, PMH trustees agreed to enter into a year-long management contract with Minnie Hamilton to help get the hospital back on financial track.
Don Muhlenthaler was at the table for his last meeting as CEO of PMH. PMH board president Dr. Bob Must read a proclamation acknowledging Muhlenthaler’s service to the hospital and presented him with a gift from hospital staff. Muhlenthaler said he had a good six years with the hospital and told the trustees their decision to move forward with Minnie Hamilton was a good one.
Looking toward this current fiscal year, the trustees approved the 2010-2011 budget. While the hospital recorded a $1.2 million loss for the fiscal year that ended in June, the projected budget presented by PMH Chief Financial Officer Marvina Irvine anticipates a $16,000 profit for the next year. Those budget figures may change depending on the outcome of a study of the hospital’s management options.
Earlier this summer, PMH was awarded a $50,000 grant to investigate whether it would be more financially sound to collaborate with a Federally Qualified Health Center like Minnie Hamilton, or to align with a larger hospital, such as Davis Memorial. The results of that study are expected toward the end of this summer.
This was also the first board meeting since the sale of PMH Home Health to Amedisys for approximately $400,000. Muhlenthaler reported that much of the money from the sale was used to pay down the hospital’s debts. Nonetheless, trustees voted to apply for an increased line of credit from Pendleton Community Bank to help with cash flow. Currently, the hospital has a $300,000 line of credit available. Trustees Thursday authorized hospital administration to ask for an increase of $200,000, bringing the total line of credit to $500,000.
The hospital board meets again in regular session August 24 in the hospital conference room at 6 p.m.