In medical news out of the region’s largest healthcare provider, Dartmouth-Hitchcock Medical Center’s fourth quarter fiscal year results have revealed a large deficit. Results published on Friday on the website Municipal Securities Rulemaking Board showed that DHMC saw a $22.6 million operating loss for the 4th quarter of the fiscal year, which ended on June 30th this year.
The Valley News says that this loss eliminated a small positive operating margin from the other three quarters, leaving the hospital down $12.2 million for the year. The hospital has since expressed that they did not expect to see such results, but were aware of three problems in the past month that did serious damage to the budget.
The three issues that took a toll on the budget were implementing a new federally ordained illness coding method, combining business and patient software, and outsourcing billing services.
This $12 million loss for the year extends a now 3-year streak of having negative results, with a slightly less $9 million loss last year.