By Linton Johnson
In the aftermath of AnMed Health’s decision this week not to extend its affiliation agreement with Elbert Memorial Hospital, the two healthcare systems have agreed that Elbert Memorial will have to repay some $709,700 of the approximate $4 million total that AnMed will have invested locally when the current contract ends next February.
Elberton-Elbert County Hospital Authority Chairman Daniel Graves said the total amount invested by AnMed Health represents $2.8 million in contractual obligations, which includes a $1 million loan, plus $500,000 in additional contributions, including back salary for administration personnel.
Additionally, AnMed Health extended a $410,000 line of credit in cash flow assistance and paid $296,000 in physician lease obligations, which Elbert Memorial will be repaying, along with interest on the line of credit, under terms still being worked out, according to Graves.
The local hospital will also be fulfilling its physician lease obligation through the end of the contract period, a projected amount estimated at $310,069, over and above AnMed Health’s $4 million investment.
During Tuesday’s authority board meeting, hospital Chief Financial Officer Kerry Trapnell reported a year-to-date operating loss of $547,371, slightly better than the same period last year, which includes a $164,676 net loss for October.
Trapnell reported 319 adjusted patient admissions during October, up from 223 the same month last year. There were 1,057 outpatient visits and 90 surgeries for the month, both categories showing an increase over October 2016.