Cedar County Memorial Hospital reports profit in February

The Cedar County Memorial Hospital (CCMH) Board heard positive news during the financial report at the regular Board of Trustees meeting on Wednesday, March 18. Expenses were down and revenue was up in February compared to the same month in 2025, resulting in a slight net profit for the month.

CARPENTER AND COMPANY–  New hospital CEO Don Carpenter took a minute for a photo with the Cedar County Memorial Hospital Board of Trustee members. From left Marvin Manring, Peggy Kenney, Katie McGee, Melissa Gallette and Greg Castor.

Chief Executive Officer Don Carpenter reported on his first weeks on the job. He said priority during this time was to “listen and learn,” meeting with department leaders and others to learn about what is going right and what could be improved.

“The strengths of this hospital are clearly the people in the organization as well as the people in the communities,” said Carpenter. “Between those two and the passion they have for the organization, there’s really nothing we can’t accomplish.”

Carpenter also expressed enthusiasm for CCMH’s continued membership in the Show-Me High Value Network (SMHVN), a group of hospitals that work together to negotiate fair reimbursement rates with insurance payors. He highlighted the network’s work to establish an accountable care organization (ACO) — a model in which hospitals commit to meeting specific quality standards in exchange for financial rewards when patient outcomes improve and costs are reduced. Carpenter noted that ACO participation could represent a significant new revenue stream for CCMH, potentially worth hundreds of thousands of dollars annually. SMHVN has also applied for Rural Health Transformation funds through the state of Missouri, which, if awarded, could cover the $30,000 membership dues for each participating hospital.

The board was given additional updates on internal operations and service expansions, including the approval of the CCMH Nuclear Medicine service license by the U.S. Nuclear Regulatory Commission. With licensure now in place, delivery of the equipment is scheduled for mid-April. The service start date will follow its arrival.

Chief Financial Officer Carla Gilbert gave the February financial report with favorable comparisons to the same month in 2025.

February 2026 financials as compared to February 2025:

• Gross operating revenue: $3,215,592 (up from $3,031,953 in 2025)

• Net operating revenue: $1,769,023 (up from $1,557,804 in 2025)

• Operating expenses: $1,694,515 (down from $1,719,764 in 2025)

• Net profit from operations: $74,508 (as compared to a loss of $161,960 in 2025)

• Days Cash on Hand: 135 (up from 132 in January, also 135 in February of 2025)

The board approved the renewal of the hospital’s liability insurance, securing a notably lower premium for 2026. CCMH is part of Missouri Hospital Plan, a self-funded consortium of hospitals, and will receive $60,000 in dividends from the 2025 policy year — bringing the effective cost of last year’s coverage well below its $109,556 premium. The 2026 premium comes in even lower at $72,099, reflecting the hospital’s strong performance within the plan.

Also approved was the decision to apply for a $300,000 loan through Sac Osage Electric Cooperative which offers a low interest rate and allows the use of the hospital’s financial CDs as collateral. The purpose of the loan will be to reduce the cash used from reserves to fund the upcoming construction of a new MRI/CT Suite.

Community member, Cheryl Thornton, informed the board of an opportunity to meet with legislators at the upcoming Lincoln Days scheduled for April 15th. The next regular board meeting would be the same day and was rescheduled for April 16 to allow board members the opportunity to attend.

All board members were present: Marvin Manring, Peggy Kenney, Katie McGee, Melissa Gallette and Greg Castor.