Phoebe brings in more than $16 Million -, Albany News, Weather, Sports

Phoebe brings in more than $16 Million

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By Karen Cohilas - bio | email

December 3, 2008

ALBANY, GA (WALB) - Phoebe Putney hospital made more than $16 Million last fiscal year. That's an increase of about two million dollars over last year's net income.

An audit also showed an almost $11 Million increase in un-reimbursed care, from $79 to $90 Million. CEO Joel Wernick says he believes more people are unable to pay because of the tough economy.

He says one reason Phoebe's income increased is because of a larger than usual volume of patients due to the hospital destruction in Americus. "A good part of this last year, there were a good number of mothers delivered from the Americus area that brought more volume to our organization, other efficiencies that have been created and other services all contribute to our growth in net income."

Phoebe spent $24.9 Million for construction of Medical Tower 2 which is almost complete. $3 Million was also spent on room renovations.