The overall financial picture continues to contain bad news for Jay County Hospital. But there was a little bit of positive news Wednesday.

CEO Dave Hyatt reported to Jay County Hospital Board on Wednesday that the facility has lost $3.92 million through the first five months of fiscal 2017.

“We continue to be challenged by the expenses exceeding the revenues … but we do have some good news,” said board member Bill Hinkle.

He then reported that the hospital received $1.7 million in Disproportionate Share Hospital (DSH) funds, which go to facilities that see a high level of Medicare and Medicaid patients. About $800,000 of that is to be applied to budget year 2016, with the rest going to 2017.

Hinkle also noted that the hospital received notice that it should expect another $200,000 that was mistakenly held back.

Still, the overall financial pattern continues to be dire as the hospital lost $920,227 in February. It has been in the red by at least half a million dollars each month so far in fiscal 2017.

Part of that problem comes from the hospital’s high level of Medicare and Medicaid patients because those programs do not fully reimburse what is billed. Reimbursements from Medicare and Medicaid are set by the federal government.

Hyatt pointed out that through February 2016 it had billed $43.3 million and brought in revenue of $18.02 million, a rate of 41.6 percent. This year, it has billed more — $45.06 million — but brought in just $13.3 million, a rate of 29.5 percent.

“That’s where we talk about having a revenue problem,” said Hyatt. “That’s indicative of payer mix and many other things …”

While revenue is down, the hospital is also trying to cut back on its expenses. So far this year, it has spent 1.5 percent less than it budgeted. That included 5 percent less than budgeted in February.

“We have done a good job of controlling our expenses,” said Hyatt. “In comparison to last year, we’ve reduced our expenses by 1.5 percent compared to where they are last year, which is a challenge. … This is a lot of work. And this should continue as we continue to make our difficult decisions …”

One of those decisions included a pension freeze, which was approved last month.

The steering committee that is looking at options to stabilize the hospital’s financial situation met in a two-hour session prior to Wednesday’s public meeting.

Hinkle reported that the group is receiving a lot of preliminary information. He emphasized that no decisions have been made.

The steering committee is scheduled to meet every week for the next five weeks as it continues the process.

Hyatt also reported that the Joint Commission Accreditation found no major deficiencies in its three-day lab inspection that concluded Wednesday.

“They really commended us on the excellent patient care, and I commend our lab,” said Hyatt.