JEFFERSON CITY, MO (KFVS) - State Auditor Nicole Galloway has released an audit of Pemiscot Memorial Health Systems in Hayti, Missouri. The audit shows the finances of the hospital are challenged.
According to the Galloway's office, the audit found the hospital has been operating at a deficit since at least 2013.
The report found the hospital board does actively monitor the hospital's finances and have worked to reduce the debt. The five-member board plans to address the concerns outlined in the report, according to Galloway's office.
At the end of 2016, the hospital had about $602,000 of cash on hand. Based on the operating costs that year, the cash balance would only cover the operating costs of the hospital for just over six days.
According to the report, unreimbursed and uncompensated care totaled nearly $4 million in 2016.
A reliance on long-term debt has contributed to the hospital's financial struggles, according to Galloway. The hospital has also extended multiple loans and funding from federal and state programs accounted for 78-percent of hospital revenue in 2015.
"Missourians in rural communities rely on access to hospitals for emergency and life-saving treatments," Auditor Galloway said. "There is only one other hospital within a 25-mile radius and this is the largest employer in the county. The economic future of our state depends on thriving rural communities, which depends on financially viable rural healthcare."
The audit was conducted as part of Auditor Galloway's Rural Healthcare Audit Initiative.