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Good News for Erlanger at Hutcheson
Erlanger at Hutcheson officials reported the hospital’s best financial results since February 2009 at today’s Board of Directors’ Budget and Finance Committee meeting. The announcement marks three consecutive months of improved financial reporting for the North Georgia health system.
Hospital leadership was cautiously optimistic about the financial improvement and noted that July’s earnings from operations were $82,476. Factors contributing to the gain included an increased hospital census - up 42% over last year - and improvements in key service lines, such as labor and delivery and surgeries. Hospital births were up in July 43% compared to last year, and total surgeries were up 18% over last month and 29% over July 2012. Officials also pointed to a higher case index, which means the hospital treated patients of a more serious nature, and an ongoing focus on diligent cost control. The report marks the first time Hutcheson has attained positive financials from operations in over three years.
Including physician clinics, Hutcheson officials reported a consolidated loss of $121,852 in July 2012 as compared to a budgeted loss of $364,541. July earnings reflect a $1.62 million improvement over Hutcheson’s July 2011 financial report. Similarly, hospital officials announced last month a $1.1 million improvement over June 2011 numbers.
Factors attributed to the physician clinic losses were employment and clinic start up expenses not originally included in the FY 2012 budget. “We are actively recruiting and hiring new physicians and medical providers,” stated Roger Forgey, President and CEO of Erlanger at Hutcheson. “The global net was a $121,000 loss for the system, which was substantially lower than expected despite the fact that physician start-up expenses were not budgeted. We expect to see hospital revenues stabilize as a result of these additional services and are very pleased with our progress so far, especially with our positive earnings from operations of over $82,000.” Forgey noted that the hospital has employed four outpatient medical providers since March 2012, with an additional employed pulmonologist to start November 1.
Tuesday, August 28 2012, 10:09 AM EDT
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HONG KONG (AP) -- Most Asian stock markets dipped on Friday following a big sell-off on Wall Street but losses were limited by optimistic reports on China's economy.
Japan's benchmark Nikkei, Hong Kong's Hang Seng and South Korea's Kospi saw slight declines. Australia's S&P/ASX 200 tumbled. In mainland China, the Shanghai Composite edged up.
ECONOMY- THE DAY AHEAD
WASHINGTON (AP) -- Investors are hoping for some positive news to halt the downward slide in the financial markets.
The Labor Department will issue the July jobs report today. In June, the economy added 288,000 jobs.
The Commerce Department will release personal income and spending figures for June. In May, consumers boosted their spending modestly after no gain in April.
Also, the University of Michigan will issue its index of consumer sentiment for July. For June, the index showed that strong job growth lifted overall sentiment.
The Commerce Department will report on June's construction spending today. For May, the figure barely rose as increased spending on non-residential projects such as office buildings and public construction was largely offset by a drop in home building
Also today, the Institute for Supply Management will release its manufacturing index for July.
On the corporate side, automakers will report July's vehicle sales numbers. And Procter & Gamble will report quarterly financial results before the market opens. Berkshire Hathaway will report earnings after the closing bell.
HONG KONG (AP) -- An official report says Chinese manufacturing rose to the highest level in more than two years in July.
Friday's survey is the latest sign that the world's No. 2 economy is perking up after a series of mini-stimulus measures unleashed by authorities.
The purchasing managers' index compiled by the China Federation of Logistics and Purchasing rose to 51.7 last month from June's 51.0.
The index is based on a 100-point scale on which numbers below 50 indicate contraction.
It's the index's highest reading since April 2012 and follows an early version of a similar measure of factory activity by HSBC that rose to 52.
Communist leaders in Beijing have used small-scale stimulus in recent months to keep China's economy on track to meet its 7.5 percent full year growth target.
WASHINGTON (AP) -- Congress has approved a bill to prevent a 28 percent cut in federal highway and mass transit aid at the height of the summer construction season.
The Senate voted Thursday night for a House-passed measure to augment the federal Highway Trust Fund with in infusion of $10.8 billion from the general Treasury -- enough to keep the fund solvent through May. The Transportation Department set Friday as the date the fund would no longer be able to provide all the aid promised from incoming gasoline and diesel fuel taxes.
The two houses played legislative ping pong with the issue in recent days over what critics called a "gimmick" to fund the measure by letting companies defer government-required contributions to their employees' pension plans. The bill now goes to the president.
NEW YORK (AP) -- The Canadian owner of a company that won nearly $1 billion in contracts to provide steel for the construction of the World Trade Center's tallest building and an adjacent transit center has been arrested on fraud charges.
Larry Davis was released on $100,000 bail Thursday. His lawyer said he will fight charges of wire fraud and conspiring in a scheme to cheat a program that provided contracts to minority- and women-owned businesses.
Court papers say Davis from 2009 through 2012 caused false payroll records to be sent to the Port Authority of New York and New Jersey.
The government says a Davis-owned company was awarded a $256 million contract to work on the trade center building and $330 million to help construct the transportation center.
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