Hospital Board passes "creative" FY23 budget
July 7, 2022
The Petersburg Medical Center Hospital Board unanimously approved its FY23 budget during last Thursday's meeting.
According to PMC CEO Phil Hofstetter, the hospital faced many challenges and unknowns while crafting its "creative budget" as the healthcare industry comes out of the COVID-19 pandemic.
Though the budget's total operating revenue of $23,925,927 is 11.1% up from the FY22 baseline, a value based on the hospital's year-to-date financials through March 31, 2022 plus an average over the rest of the year according to CFO Cynthia Brandt, expenses are also up.
The FY23 budget has total...