In July of 2009, Sheridan Memorial Hospital received a raise in Medicare rates from the U.S. Government. Officials with the Hospital waited several months to make sure that what the Government said was going to happen, did indeed happen, and what impact it would have on the hospital.
Sheridan Memorial Chief Financial Officer Ed Johlman says that 7 months later, the reimbursement raise has paid off.
Johlman explains how that money was used to help the hospital during an unusually slow period.
Johlman stated that the contractual adjustment along with an adjustment in the gainshare program helped the hospital save $300,000 in the month of January.