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care.
“At CMH the average length ol stay in 1990 was 4.28 days. Currently, it has been reduced even further to 3.97 days.”
The report also shows that Culpeper Memorial Hospital’s average cost per admission is lower than all neighboring hospitals, including a facility that does not have the expense of an emergency department. Emergency departments are expensive to operate because of the high incidence of unpaid charges.
“Hospitals are organizations with social service missions. Even these organizations must operate within standard business practices to maintain financial viability,” stated Virginia Hospital Association president Laurens Sartoris.
Virginia hospitals’ 4.1 percent operating margin places them at the minimum 4 percent financial indicator needed to sustain existing operations (1991 Hospital Finance Almanac, William O. Cleverly, Ph.D., CPA), and their return on equity, another key financial indicator, is far below the national average.
Culpeper Memorial Hospital recorded a two percent operating margin last year. ‘This year charity costs and bad debt have escalated, and we do not anticipate meeting even a two percent margin,” said Gravely.
“Operating margins are nec
81.3%