Phoebe Putney Memorial Hospital releases Fiscal Year 2016 Form 990

ALBANY — The IRS Form 990 for Phoebe Putney Memorial Hospital from Fiscal Year 2016, approved by the hospital’s board of directors on Wednesday, offers insight into the financial health of the hospital.

The form, prepared by the Draffin & Tucker CPA firm, showed $515.64 million in revenue, $525.10 million in expenses and $617.73 million in assets at the end of the fiscal year.

“As a not-for-profit hospital, all of Phoebe’s revenue after expenses is reinvested in our mission to care for the people of Southwest Georgia,” Ben Roberts, a spokesman for Phoebe, said. “Despite changes in health care that have reduced our funding from the federal government by millions of dollars a year, and despite a lack of any direction from the state or federal government about other potential health care reforms, Phoebe’s FY ‘16 IRS 990 Form shows Phoebe’s financial foundation is strong.

“We have worked diligently to be responsible stewards of our resources, allowing us to keep up with the rising costs of health care, to reinvest in infrastructure and technology, and to recruit and retain top doctors, nurses and employees who serve our community.”

The hospital reported 112,831 patient days, 19,727 inpatient admissions, 2,341 births, 96,235 emergency visits and 657,430 clinic visits during the fiscal year. A total of $379 million was listed on the 990 form for program service expenses.

During the year, Phoebe reported a book value of its land, building and equipment of $292.45 million. Catastrophic financial assistance was provided over the year to families above 200 percent of the federal poverty level, the form notes.

The form said Phoebe provided $263 million in unreimbursed care and health education services that reached 4,251 individuals in 2016 at a cost of $354,240. The hospital’s Network of Trust enrolled 75 teen parents during the most recent school year at a cost of $301,768.

Meanwhile, 230 flu shots were administered for an unreimbursed $6,013, and 417 health screenings were conducted for $171,634. The school nurse program covered 17,000 student visits for $331,749, the 990 states.

The FY ‘16 form said Phoebe provided $491,249 in clinical supervision and training of nursing students, and an additional $860,004 in supervision and training to pharmacy, pharmacy technicians and other allied health professionals. In all, 587 students received instruction at a Phoebe facility.

The form said Phoebe provided care to 187 Dougherty County Jail inmates in 2016 for $356,475 unreimbursed medical and drug treatment. Over the years, the pharmacy filled 6,695 prescriptions at a cost of $214,815.

Phoebe also incurred $162,334 in charges to support staff and community needs assessment costs. In all, $266.76 million was reported in community benefits, the 990 said.

The 990 lists salaries for some of Phoebe’s administrative staff. Phoebe Putney Health System President/CEO Joel Wernick had a base compensation of $784,703, with a total of $2.18 million, followed by Joe Austin, the health system’s COO, with a base compensation of $459,214 and a total of $1.02 million.

The form is expected to soon be available for public view at www.phoebehealth.com/about-us/about-us-financials.