The Effingham Hospital Board of Trustees received the audit on their fiscal year 2009 from certified public accountant Jim L. Creamer Sr. of Draffin and Tucker.
Creamer reported that the assets of Effingham Hospital increased 86 percent over the last four-year period. He noted that the accounts receivables are managed aggressively resulting in a positive cash position due to increased collections efforts and noted that purchases for the year had been held to a minimum and that increases in operating revenue for the period were primarily attributable to a 13 percent increase in outpatient services.
Creamer congratulated administration and the Hospital Authority on keeping the supplies and salaries in check through aggressive administrative management oversight. Total assets for the period ending June 30, 2009 were $18,305,096.
The bad debt percentage of gross patient revenue for accounts that was not collected was 9.8 percent. Creamer explained that the desired trend in today’s economy is 11 percent or less.