By PETER HUSSMANN
Skiff Medical Center Trustees were being informed at today's late morning meeting that the hospital lost more than $4 million in the fiscal year ended June 30, about a $700,000 increase from the loss recorded the fiscal year before.
The statement of operations report provided to Trustees showed the city-owned hospital ending the fiscal year with revenue over expenses totaling a negative $4,012,642 compared to $3,365,368 loss at the end of fiscal year 2009.
For the month of June, Skiff recorded a loss of $497,667, an improvement from the $644,972 loss recorded the month before. The hospital recorded only one profitable month in the past fiscal year, in March when revenues over expenses amounted to approximately $175,000.
Skiff has taken several steps to stem the tide of red ink, including a reduction in force initiative, wage freezes and an internal reorganization. The hospital is also taking active steps to increase patient volumes, including the addition of new doctors to practice at the hospital.
Dr. Dominic Formaro, a general surgeon, started with Skiff this month and Dr. Malini Dandu, a family practice physician specializing in obstetrics is scheduled to start with the Newton Clinic on Aug. 16.
In addition, two other doctors are expressing interest in the Newton community. Dr. Gerald Stanley, a family practitioner currently working in Missouri as part of a program to serve rural/under-served areas, is looking to have his commitment transferred to enable him to join the Newton Clinic. Dr. Ian Munger, a Newton native, is currently in residency in Mason City and considering Newton as a future location for his medicine practice.
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