Guam Memorial Hospital officials indicated the hospital is projecting revenues of around $140.8 million for fiscal year 2022.
GMH chief finance officer Yuka Hechanova said during the GMH budget hearing that the amount is pretty much what the hospital needs to operate.
All the departments submit their budgets…. we do have a lot of optimistic outcomes that we see for FY 2022,” Hechanova said.
She added that the pandemic also allowed the hospital to focus more on its receivables.
“We actually billed a lot…we were aggressive in billing. Part of it was because COVID had slowed the hospital down and really allowed us to catch up on billing and getting all the coding down. Because of that, we were able to collect $104.4 million which was a pretty stellar year for us,” Hechanova said.
Hechanova also showed a snapshot of patient trends at the hospital, which shows a decline in numbers because of the COVID-19 pandemic. She says this impacted the hospital’s financial standing in 2020.
“We went from — in 2019 — 36,000 patients to 29,300 in 2020 because of COVID. So the line dips. Also in 2016, that is when GRMC opened, some patients also went there. But in 2020 we really did lose a lot of patients because of COVID. They just weren’t coming into the hospital. We shut down for a period of time. We shut down a lot of outpatient services,” Hechanova said.