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NOTICE

 

NOTICE

 

MHC Physicians, Inc., a WV Professional Corporation owned by Marietta Memorial Hospital presents the following financial statements in accordance with the Health Care Financial Disclosure Law of West Virginia. All other statements and schedules required to be filed are available for public inspection and copying at the Office of the Director, The Health Care Authority, 100 Dee Drive, Charleston, WV 25311, during regular hours, 8:00 AM to 5:00 PM on any business day.

 

Summary of Revenues and Expenses Year Ended September 30th, 2015

 

MHC Physicians Inc.

Balance Sheet

30-Sep-15

 

Assets

 

Current Assets:

Patient Accounts Receivable                             387,792

Total Current assets                                        387,792

Total Assets                                                387,792

 

Liabilities and Net Assets

 

Current Liabilities

Due to Marietta Memorial Hospital                    2,999,462

Total Current Liabilities                                  2,999,462

 

Net Assets

Unrestricted                                                   (2,611,670)

Total Liabilities and Net Assets                    387,792

 

MHC Physicians Inc.

Statement of Cash Flows

Year Ended September 30, 2015

 

Operating Activities

Change in Net Assets                                       (437,395)

 

Changes in Operating Assets and Liabilities

Patients Accounts Receivable                              66,442

Due to related party                                           370,953

Net cash from operating activities                                0

 

Cash beginning of year                                                    0

 

Cash end of year                                                             0

 

MHC Physicians Inc.

Statement of Revenue and Expenses

Year Ended September 30, 2015

 

Net Revenue                                                     1,357,252

 

Operating expenses:

Salaries                                                           1,410,976

Benefits                                                              282,195

Supplies                                                               45,041

Purchased Services                                                6,035

Medical Professional                                                      —

Bad debts                                                            39,251

Rent                                                                          438

Insurance

Utilities                                                                           —

Interest

Depreciation                                                                  —

Other                                                                   10,711

Total Operating Expense                                1,794,647

 

Excess of Revenue Over Expense                    (437,395)

 

 

Jan 11