Sheridan Memorial Hospital Board Of Trustees Approve Budget For Fiscal Year 2025

The Sheridan Memorial Hospital Board Of Trustees has approved the budget for the upcoming 2025 fiscal year.

Hospital CEO Mike McCafferty says the new budget should give the hospital a break-even operating margin.

Although it may not sound like much, he adds it’s typical of most rural hospitals.

Recently the hospital redesigned the front desk and check-in area, extended hours of the imaging center, and has taken over operations of Green House Living.

McCafferty says if the hospital is able to break even during the upcoming fiscal year, it will be beneficial in other ways.

“It gives us the ability to continue to reinvest in our people and our facilities and equipment and so on and I think that’s obviously really important in order to keep a vital and sustainable health care system, you have to generate revenue over your expenses so you can reinvest in all the important things.”

McCafferty adds that for fiscal year ‘24 which is about to end, the hospital had about a 3.5% operating gain.