Wellmont Audit Concludes; Findings Reveal Overstatement of Earnings
Associated Press Graphic
Today, Wellmont Health System completed a financial review which revealed the health care company overstated their earnings, according to a recent press release. Wellmont officials have declined to reveal the exact amount of the overstatement at this time.
The audit revealed the following: income from operations of $2.8 million for fiscal year 2006, $2.0 million for fiscal year 2007 and a net loss from operations of $4.59 million for fiscal year 2008. The years 2007 and 2008 have been audited by the accounting firm KPMG.
The review, which was begun in December of last year, was conducted by Wellmont’s finance team as well as the help of outside legal, accounting and auditing firms. The review identified the need for Wellmont to restate financials for fiscal years 2006 and 2007.
According to officials, the overstatement occurred because of several issues and errors in recording expenses, receivables and assets.
A press release issued earlier today states that Wellmont is taking steps to ensure that errors of this magnitude no longer occur. Most importantly, “the financial review did not identify any theft or personal gain associated with the accounting errors.“
11 Connects Digital Journalist George Jackson will have more on this issue as this story progresses.
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Reader Reactions
to the last post, if you had a ct scan, if you had to drink the dye they use for that, thats where the charge for the drugs came from. if not, you can call the hospital and them send you an itemized bill of all the charges.
TnRebel is correct. I was at the ER on 06/15/09 because I fell at work and hurt my back. First time I have been there in several years. I told them three times that my address was incorrect on the paperwork. Also told them that my date of birth was incorrect. I arrived at the ER at 2:00 a.m. and it was after 7:00 a.m. when I left out of there. All I saw was one doctor working and one nurse. I sat for hours and hours waiting to see someone. The doctor finally comes in the room and sends me for a Cat Scan. Came back, told me nothing was broken, gave me 2 Loritabs and a prescription and sent me home.
I looked at my discharge papers a few days after coming home and see that my address is still not corret. I called the billing dept and gave them my correct address. The billing clerk also got it wrong. I finally called again today and had it corrected once again and hopefully it is now correct.
At the ER they asked where I worked and I told them Sprint. I looked at the papers and they had Embarq on there. So I had to have that corrected. I also gave them the address to Sprint in Bristol to send the records and bill to and for some unknown reason, they sent them to somewhere in Arizona I was told today. I had them fax me a copy of the bill and there is an $108.00 charge for drugs on there that I DID NOT receive.
It is amazing to me how one visit could have had so much drama and so many errors attached to it that it scares me. You can assure, the next time I have to go to the hospital, I will go in the other direction to Abingdon.
Waiting til the doctor’s office opens is well and good if you can get an appointment without waiting a couple of weeks. My doctor’s office stays booked. If I get bad enough, I’ll call, but if he’s booked, I don’t have a choice but to go to the ER. I haven’t had to go for my asthma yet because I already had a prescription for prednisone and got it filled. It’s helping for now.
i think if people are unsatisfied they should wait until their doctors office opens up the next day, UNLESS it is a TRUE emergency. wellmont and mountain states are not owned by the same people or corporation and not all mountain states hospitals are bad. my dad is a doc at one of them. as far as the financial stuff goes, apparently that wasnt an interesting enough topic to go on.
I would beg to differ on the non caring nurses in ER. My mother had to go 4 times in a roll, and they were nice, caring and always smiling. This would be on the Quick Care side. The wait was a few minutes, but all of the rooms in the new ER were full. So that is a good sign that the ER is being used.
The best thing that could happen to healthcare in the Tri-Cities would be for Wellmont and Mountain States Health Alliance to both die in a fire.
We have some really good doctors in the area, but the two hospital corporations that own everything in the whole region suck.
The main reason I haven’t gone to see about my asthma, is that they almost always tell me there’s nothing going on because I’m not wheezing and gasping for air even though I’m tight and coughing up crud. I do not always wheeze with my asthma and they don’t always want to listen to me when I tell them that. However, they do treat me because I insist on it and they usually find I was truly having problems. I don’t usually have too many hassles at Bristol.
Part of their loss can be explained in building a brand new ER that does not function any better than the old one. You are still left sitting for extremely long periods of time, you see a PA instead of an MD and I had the joy of watching the tech sit at the nurses station and watch a sitcom…guess they have cable in there too. Nice, that is why my bill is so high. So employees can be afforded the luxury of watching cable programming while at work. And if that wasn’t bad enough the PA acted like she was afraid to tell me anything about what was wrong with me so I didn’t know any more when I left then I did when I walked in.
So sad, so many wonderful wonderful nurses on the floors and you get people that don’t seem to care in the ER.
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