Beaver Dam Community Hospitals releases annual report
Beaver Dam Community Hospitals has released its annual report, covering its finances and services as the hospital looks toward 2019.
In fiscal year 2018, the hospital had 296.2 days of cash on hand, compared with 272.9 in fiscal 2017 and 282 in fiscal 2016. The reports says that this measure of cash stability is nearly double the industry standard.
Total revenue was $103,296,374 while operating expenses were $102,975,434 for a final income of $320,940.
In 2017, final income was a net loss of $3,783,134. In 2016, final income was $4,195,766.
In 2018, outpatient and clinic visits dropped by about 3 percent from 2017, while inpatient days rose by about 10 percent in the fiscal year. Emergency and urgent care visits fell by about 8 percent.
The hospital provided $1,145,936 in funds for community care and spent $1,853,685 on health education and community outreach.
In the calendar year for 2018, Beaver Dam Community Hospitals experienced several significant changes. One of the most prominent was the sale of the Lakeview Hospital Building on LaCrosse Street to the city of Beaver Dam for $225,000, up from the $200,000 the hospital spent. The Lakeview building, which was the extension of a mansion that has since been demolished, was under the hospital’s care for some decades and many uses before a cycle of private developers took it over starting in the 2000s.
However, plans for development on the site never came to be, and the building has sat vacant as an eyesore in the neighborhood for many years. The hospital bought it back in 2016.
Now that Beaver Dam owns Lakeview, the city is working to create a tax increment financing district that will fund the building’s demolition. The idea is to flip the property to a development firm run by Ben Westra of WDS Construction to make way for a higher-end condo complex. The new tax revenue from the project would pay off the demolition.
Beaver Dam Community Hospitals announced plans to affiliate with the Marshfield Clinic Health System. Negotiations are continuing with the idea to make BDCH part of the Marshfield System, which would allows the two to share resources and doctors.
The hospital also started 24/7 urgent care services and opened a new movement and orthopedics clinic. Patients can now set up mammogram screening appointments with same-day results. The Blue Zones project continued its march in Dodge County.