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October 2024 President’s Report
Download PDF: October-2024-Presidents-Report
TO: 3HC Board of Directors
FROM: Jennifer Whitleyo
DATE: October 31, 2024
SUBJECT: October 2024 President’s Report
Hello 3HC Board,
I hope you are enjoying this beautiful fall weather we are having! We appreciate your service which is so
important for us to carry out the mission of 3HC.
3HC Luminary Fundraiser
The first annual 3HC luminary fundraiser event will be held on Thursday, November 21, 2024, at 6:00pm at
Kitty Askins Hospice Center. Please join us for the short ceremony if you are able. Attached you will find a
luminary order form in the event you would like to order one or more in memory or in honor of someone.
Luminary orders will be accepted up to a week before the event.
2025 Employee Insurance Renewal
We are happy to report that the 2025 health and dental insurance renewal will NOT require an increase in
premiums for staff. This is a rare occurrence, and we hope this will boost employee morale. As you know,
we are challenged with insurance costs compared to larger healthcare entities.
CCHH Expansion Update
Shirley Harkey and other members of the 3HC Executive Committee will be meeting with the CCHH
Foundation Executive Committee virtually (per their request), on Monday, November 4, 2024. More
information to come.
Financial Performance
Financial statements for and through September are currently in draft status as year-end adjustments may
be made through the completion of the annual financial audit. Therefore, financial reports are not attached
to this report. Audit fieldwork, which will be completed remotely, is scheduled for the week of November
5th.
Please see the graph of our trended operating margin, as well as total net income for the fiscal year. A few
items that contributed to our positive operating margin for September:
- Rebate for health insurance pharmacy spend for April – June of about $100K
- Lower contract nurse expense
- Management of payor mix for home health
- $440K of YTD Above & Beyond related expenses that were reclassed to non-operating
in order to be matched with associated revenues
September’s operating margin is currently $367,764. Without the A&B YTD reclass, it would have been an operating loss of ($71,809), which is still a huge improvement over where we began the year.
Crystal will be sending calendar invites in November for the next quarterly board meeting set for January 2025. An email has been sent, but as a reminder, our Board Christmas dinner is scheduled for Tuesday, December 10, 2024, at 6:30 pm, at the Kinston Country Club. Please let Crystal know if you and your guest will be able to attend. Other Attachments A Light to Remember Luminary Order form
