PHILADELPHIA, Miss. (AP) — Neshoba County General Hospital and Nursing Home generated a profit of $3.5 million profit during fiscal 2012 after a $213,575 profit the previous year, according to audited financial statements.
The Neshoba Democrat reports the hospital had a loss of $1.9 million in 2010.
Hospital administrator Lonnie Graeber said overall expenses were reduced by about $ 2 million while revenue remained steady, leading to the 2012 profit.
Graeber said that for the first eight months of operations in fiscal 2013, the facility has shown a profit of $3.5 million.
“Our inpatient volume has increased about 40 percent this year,” he said.
That is expected to rise with the new hospital now open.
“We have another real good financial year going,” Graeber said.
The hospital and nursing home reported operating income of about $2.9 million for fiscal 2012, up from just shy of $90,000 the previous year.
The hospital’s Board of Trustees ended its management agreement with Quorum Health Resources Inc. in June 2010. The company had managed the facility since 1993.
After the agreement was terminated, Thomas Bland, longtime administrator of Montfort Jones Memorial Hospital in Kosciusko, was hired as interim chief executive officer.
Graeber took over in November 2010.