Third profitable year at BCMH; Seek to increase market share

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IMPROVED OUTLOOK—Baraga County Memorial Hospital has been profitable for three consecutive years. L-r, CFO Gail Jestila Peltola, CEO Margie Hale and hospital board chair Fran Whitman reviewed the audit and financial picture with the editor on Monday. All three believe that good employee morale and patient satisfaction can lead to more utilization, better finances and an improved chance for BCMH to remain independent.

 

by Barry Drue
For the third consecutive year Baraga County Memorial Hospital has been profitable, and the trend appears to be continuing. A clean audit was presented to the hospital board in December. And according to Chief Financial Officer Gail Jestila Peltola, the outlook is positive in the first quarter of this fiscal year, which began Oct. 1, 2015. “This is the third year we’ve been in the black,” Jestila Peltola said. “Our net income for fiscal 2015 was $665,000.  That’s compared to net income of $373,560 the previous year—almost double.” The CFO, hospital CEO Margie Hale, and Board of Trustees Chair Fran Whitman provided an update on BCMH’s financial picture in an interview on Monday, Feb. 22. “We have a good audit with no major adjustments. It’s the highest rate given,” Hale noted. The audit is performed annually in November after the fiscal year closes at the end of September. The company BCMH uses is Wipfli, a hospital auditing specialist. Their report was presented to, and accepted by, the hospital board in December. To read more, subscribe to the L’Anse Sentinel online, or buy a print copy at our local retailers.

Filed in: Baraga County, News

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