Outside auditors gave Cookeville Regional a clean bill of health on its last fiscal year report Wednesday: no findings.
“The financial health of Cookeville Regional is very strong,” CEO Paul Korth said.
The Board of Trustees accepted the audit report at a specially-called meeting. Board of Trustees Chair Kevin Carter said the hospital has remain committed to serving patients despite the pandemic challenge.
“The reason we’re here is to provide overall health care for the community,” Carter said. “And despite the challenges that we’ve had the last two years with COVID, we’ve been able to continue to operate in such a way that not only can we still provide for the health needs of the community, but we can do that with an eye looking toward the future. Anybody that’s involved here at the hospital, it’s certainly not business as usual. But you responded in a spectacular fashion, and we’re still going forward.”
CRMC spent some $16.5 million on treating COVID patients during the last fiscal year. Chief Financial Officer Tommye Rena Wells said the government pays the same amount of money for treating COVID patients whether they patient remains hospitalized two days or 40.
“If somebody says 20 days or 40 days in the ICU, then we’re taking a pretty substantial off on those patients,” Board Member Danny Rader said.
A government audit related to COVID found a minor audit issue, a clerical issue with reporting on a new government system. Korth said the issue has been remedied and further safeguards have been put in place. Korth said he encouraged his team to keep detailed records on everything COVID as he expects questions from the federal government for years to come.
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