Gagnon positive despite lower surplus, high working capital deficit

Monday night’s SAH Annual General Meeting started with several numbers. For the year ending March 31st, there was a reduced surplus of 300 thousand dollars, an increase in the number of patient days by 5 thousand to 104 thousand and a 5 percent spike — with the hospital operating at an average of 122 percent capacity. The latter was attributed to waiting for 50 Alternate Long-Term Care beds to open. Sault Area Hospital CEO Ron Gagnon says work is also being done to adjust the hospital to a ‘new funding reality’…

It was mentioned by Gagnon last night that the hospital was ‘balanced’ when it came to its operating budget for the fourth year in a row. It was mixed results for the hospital’s bottom line, headlined by the smaller surplus of 300 thousand dollars for the year ending March 31st. That compares to 1.6 million dollars at the end of March 2014. Gagnon says there were two main reasons for that…

The hospital continues to deal with a Working Capital Deficit of 17.3 million dollars, down from 18.8 million one year ago. When asked about what’s being done to eliminate that deficit, Gagnon expressed confidence that it is on its way to being gone by 2026, adding that this is why the hospital needs to have surpluses every year. While the financial challenges continue, there were several positive stories from the meeting. They ranged from an expansion in delivering mental health services and an expanded cardio-respiratory clinic to a successful bid for a Regional Pathology Unit over the past year. Gagnon feels the hospital will continue to work towards achieving its vision for the future…

Gagnon adds in the meantime efforts will continue to realize the hospital’s strategic plan and Vision for 2020. The 2020 Vision paints the Sault Area Hospital as a ‘voice’ for local care — a place that offers skilled medical staff, immediacy to a patient’s medical information and care at home as an option.