Wednesday, May 22 2013 6:43 PM EDT2013-05-22 22:43:09 GMT
Some princesses and super heroes made a stop in Albany Wednesday to visit young patients at Phoebe Putney Memorial hospital. Spiderman, Ariel and a few others made rounds to the children on the pediatricMore >>
Some princesses and super heroes made a stop in Albany Wednesday to visit young patients at Phoebe Putney Memorial hospital. More >>
Wednesday, May 22 2013 6:40 PM EDT2013-05-22 22:40:51 GMT
Students and teachers at a south Georgia school dedicated a special spot to a little girl killed in a school bus crash two weeks ago. Several other Pataula Charter Academy students were injured in thatMore >>
Students and teachers at Pataula Charter Academy dedicated a park bench on the playground of the school where 10-year-old Jordyn Doughtie was a student.More >>
Wednesday, May 22 2013 6:31 PM EDT2013-05-22 22:31:56 GMT
Jurors heard closing arguments Wednesday afternoon in the aggravated assault trial of three South Georgia men charged with beating a man in the parking lot of a northwest Albany club. Prosecutors sayMore >>
Prosecutors say three men beat a man in an Albany club parking lot so fiercely they fractured his skull.More >>
Wednesday, May 22 2013 6:24 PM EDT2013-05-22 22:24:32 GMT
Dougherty County Police are investigating a rash of entering auto thefts in the West region of the county. They hope you can identify one suspected thief caught on camera. Take a look at the young manMore >>
Dougherty County Police are looking for a young man captured on surveillance video using a stolen debit card.More >>
Wednesday, May 22 2013 5:58 PM EDT2013-05-22 21:58:07 GMT
Teachers and parents have new resources to help kids deal with major issues such as bullying, depression, and obesity. Now kids and educators have the power to make a difference. Officials with Phoebe'sMore >>
Teachers and parents have new resources to help kids deal with major issues such as bullying, depression, and obesity. Now kids and educators have the power to make a difference. Officials with Phoebe's Network of Trust highlighted those resources at a special luncheon Wednesday.More >>
VALDOSTA, GA (WALB) - Many hospitals are taking a financial hit because of Medicaid cuts and shrinking investments. Approximately one-third of all Georgia hospitals are now operating in the red.
Thanks to spending cuts and careful planning, South Georgia Medical Center in Valdosta is still turning a small profit.
"We do everything we can to be frugal and manage appropriately and to try and produce a bottom line. It's very important to our future success," says hospital CEO James McGahee.
The hospital is cutting back on new purchases that would have been paid for with a funded appreciation account.
"Those funds generally earn several million dollars a year. Basically, right now, we're earning zero on those funds. A lot of those funds were invested in money market accounts which are not paying anything now," explained McGahee.
Employee pension plans, which are invested in the stock market, have depleted, leaving little money for new hires. To save on expenses, the hospital has mandated a hiring freeze on jobs not directly related to patient care. This includes office and administrative positions.
Even though emergency rooms across the country becoming more crowded, many of these patients have no insurance or can't afford treatment.
"First of all, we're not going to turn those patients away," said McGahee. "Yet, we're being asked to provide in the highest cost environment. So, even though there's more patients, it actually results in a greater loss to the hospital."
Despite these losses, the meticulous planning of South georgia Medical Center has kept it from falling into the red.