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Hospital Audit Shows Jasper Health Services Doing Well

It was almost shocking to see the huge profit that Jasper Health Services made in the most recent audit done by the auditors for Oconee Regional.  For the year ended 9/30/04, JHS (which includes the Hospital and the Retreat) had a net operating profit of $789,813.  This figure includes the $505,000 that the BOC provides to the hospital.  Even without the county supplement, the hospital made a profit!  Even more curious is the fact that Oconee Regional (ORMC) had a net operating LOSS of $2,075,608.  So who is helping whom in this arrangement?  It looks as if Oconee needs Jasper, not the other way around.  Another item of interest—for the year ended 9/30/03 ORMC made $2,035,893 and JHS lost $190,424.  This is a quite an unusual “turnaround.”  The audit also reveals that there were “contributions from Baldwin and Jasper County” in the amount of $1,072,000.  While we continue to hear we need to fund the hospital to pay for indigent care, the audit shows that an excess of $1,637,904 was received over and above what was paid into the Indigent Trust Fund during the year.  As of 9/30/04, JHS owed ORMC $2,772,905.  (Recent financials reveal this debt has increased to $3,211,000.)

 

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