Wabash Valley hospital on the financial mend

Good Samaritan hospital is having a better financial year in 2018

Posted: Jul 10, 2018 6:16 PM
Updated: Jul 10, 2018 7:36 PM

VINCENNES, Ind. (WTHI) - Sports are a big deal in Knox County. It's a reason why Good Samaritan hospital added a new sports performance program last year.

Employee Adam Elkins says, "Right now we're dealing with high school and middle school athletes. Trying to get them to perform better and move better. Be stronger, faster, more agile."

Adam Elkins used to be a high school athlete at South Knox high school. Now he's a new employee at Good Samaritan.

Elkins says, "It's just a huge relief having such a good organization to come home to. And I think that was my biggest thing. Being able to come back home, be with my family, and still get a position that I love."

The position is the result of a better financial outlook for the hospital in 2018.

CEO Rob McLin says, "Last year we, as most hospitals, did struggle. Tried to find our way. And this year we've seen a really nice financial turnaround."

McLin says these struggles in a decrease in reimbursement.

McLin explains, "We're running a little over two and a half percent, two point seven,  two point seven five operating margin. Which for us is incredibly good."

The operating margin is the difference between reimbursements and costs. This puts the hospital effectively in the black.

McLin says, "In health care, anything close to a three percent margin is incredibly positive."

Meaning the hospital can invest and expand. For Elkins, the positive cash flow means job security.

Elkins says, "It's great. All the people are wonderful. Everybody smiles. Everybody greets you in the hallway. It's the best place I've ever worked."

Providing jobs and helping retain prospective employees in the county.

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