The Board of Trustees for Sheridan Memorial Hospital met for their monthly meeting Wednesday. Sheridan Media's Ron Richter was there and has this report.
Since last September, Sheridan Memorial Hospital has experienced declining revenues, which has resulted in revenue being down about $3.3 million for the current fiscal year. Bad debt expense has played a large role in the hospital's lagging numbers. Hospital Chief Financial Officer Ed Johlman.
In total so far this year, Sheridan Memorial has incurred $4.5 million in bad debt expense and provided $1.5 million of charity care.
Johlman said that they are looking at several ways to cut expenses in the upcoming fiscal year by being more efficient in staff scheduling, overtime management, and purchasing supplies.