Closer Look at Putnam General Hospital’s Dim Financial Prognosis

Millions in Debt. Millions in Unpaid Care. A Failed Voter Referendum.

Just some of the challenges in the financial picture for Putnam General Hospital in Eatonton.

During a Thursday Putnam County County Commission meeting, hospital leadership laid out their challenges.

You can watch that meeting here: https://bit.ly/36n5XQq

After the meeting, we talked to Commission Chairman Billy Webster about what he heard and should be done next.

One of those steps taken Thursday is the return of $400,000 a year in county funding.

The hospital CEO Alan Horton also sent a letter to the County Commission about the Putnam General’s finances.

Read that letter here: https://bit.ly/3afMiDq

Here are some of the highlights:

-Putnam General owes $5 million to Navicent Health. It is paying 6% interest on that debt.

-Putnam General Hospital wrote off $2.5 million in unpaid, indigent care during its 2020 budget year.

-Putnam General has used $692,345 of the $3,902,820 in federal and state COVID-19 funding it has received. It is only allowed to spend it on certain things, especially true when it comes to federal CARES Act funds.

-Putnam General received $1,229,200 in PPP Loans.

In its letter, Putnam General Hospital leadership lays out the help they need, which includes continued support from the county.

Back in November, Putnam County voters rejected a non-binding referendum that would have asked the county commission to raise property taxes one mil for six years to raise $7.8 million for the hospital. More than 60% of voters rejected the idea.