MHP receives audit results

Mahaska Health Partnership

OSKALOOSA — Gronewold, Bell, Kyhnn & Co. P.C. CPAs, have released an audit report on Mahaska Health Partnership in Oskaloosa, Iowa.

According to Chris Nelson, audit partner, MHP’s revenues totaled $34,810,400 for fiscal year 2010, which runs from July 1, 2009 through June 30, 2010. This is a 2.5 percent increase from the previous year. The revenues included $31,034,100 in net patient revenue, $287,200 of other operating revenue, $1,921,000 from county taxes and $103,400 in interest on investments.

Expenses for the year totaled $32,651,600, a 3.0 percent increase from the prior year, and included $14,262,000 for other professional services, $7,930,800 for nursing services and $5,714,600 for fiscal and administrative services.

“Given the current economic environment, we are pleased to finish our fiscal year with a growth in revenue,” said MHP CEO Jay Christensen. “It requires funds to generate growth, so our expenses also increased accordingly. Overall, we are satisfied with the way our fiscal year ended.”

Nelson said the increase in revenues is due to charge increases and higher Medicare and Medicaid reimbursement. The increase in expenses is due primarily to general inflation. A copy of the audited report will soon be available for review in the office of the Auditor of State and the Hospital Administrator’s office.

Source: Mahaska Health Partnership