While Moyne Health posted its lowest operating result since 2014, the hospital’s finances are in a “very healthy” condition following the completion of its urgent care centre, according to board chair Karen Foster.
Moyne Health posted an operating result of $62,000 for the 2017/18 financial year, after posting $495,000 in 2017, $417,000 in 2016, and $418,000 in 2015.
The hospital also recorded 2098 bed days for the year, its lowest in over four years, while construction of the urgent care centre and refurbishment of the hospital was underway.
However, Moyne Health board chair Karen Foster said this was not a cause for concern.
“As a not-for-profit our aim is to use our resources thoroughly so that we can provide the best level of care,” she said.
“There have been some challenges for us around cash-flow as we’re funding these major construction works and we’ve had to keep a careful eye on it, but there’s no problems or major concerns there – we’re really thrilled with the outcome.
“We had to take some beds offline during the construction phase, which impacted our revenue, but we’ve been able to manage it and I chalk that up to the financial management skills of our executive team.”
Moyne Health held its annual general meeting on November 22 and Mrs Foster said on reflection the “predominant theme” for 2018 was “consolidation” following an extensive master planning and construction phase.
“We’re very cognisant of the fact we’ve been disrupting people in their homes,” she said. “But it’s also really exciting, because we’ve now got some state-of-the-art facilities that are much safer. Looking ahead, the biggest challenge is staying relevant to the community.”
Moyne Health will hold a board meeting on December 13 where all positions will be declared vacant and then re-appointed, with vice-chair Ralph Leutton set to finish his nine-year term in June 2019.
The board will also consider extending the contract of Ms Kelly, CEO since August 2017, to five years.