Contributed photo/www.facebook.com/PeaceHealthPeaceIsland

Contributed photo/www.facebook.com/PeaceHealthPeaceIsland

Peace Island Medical Center loses $5 million over six months | Update

  • Tue Sep 4th, 2018 3:17pm
  • News

Staff report

The island’s only hospital is continuing to report in the red, though staff assure finances are stable.

According to a report released on Wednesday, Aug. 22, the PeaceHealth Peace Island Medical Center on San Juan Island endured a roughly $5 million loss from January to June 2018.

During the same months in both 2016 and 2017, the hospital reported roughly $2 million in losses.

These figures were calculated including a subsidy the hospital receives from taxpayers in the San Juan County Public Hospital District 1, which includes the Town of Friday Harbor, San Juan Island and the islands of Brown, Pearl, Henry, Spieden, Stuart, Johns and some smaller islands.

The subsidy for the most recent period was about $500,000.

Merry-Ann Keane, the chief administrative officer for PIMC, wrote in a letter to the editor that Medicare and Medicaid adjustments contributed to the majority of the loss reported and the finances are secure, overall.

“We expect ups and downs in these adjustments,” she wrote. “At times they are favorable to PeaceHealth; sometimes, not. Regardless of these swings, PeaceHealth Peace Island is financially stable and performing as we anticipated. And while we certainly pay close attention to the numbers in our balance sheets, we are far more motivated by our commitment – by our mission – to serve all who need and deserve health care in the communities we serve, including those here on San Juan Island.”

Read the report below.