Hospital Board approves FY24 operating budget

The Petersburg Medical Center Board unanimously approved the hospital’s operating budget for the next fiscal year at its June board meeting.

PMC CFO Jason McCormick presented the draft FY24 operating budget at the meeting, which features a budgeted total operating revenue over the next year of $25.34 million.

The budgeted revenue is an optimistic increase from the estimated FY23 total operating revenue of $22.46 million—mostly driven by a budgeted 18% increase in net patient revenue from the previous fiscal year.

According to McCormick, PMC needs the increase, which would result in about $23.2...