Stephens Co. Hospital Looking at Rural Healthcare Tax Credit Program

Stephens County Hospital is working to learn more about a new program starting in January in Georgia that is designed to benefit rural hospitals like Stephens County and the people who donate to them.

It is called the Rural Healthcare Tax Credit program and it was approved by the state this past year.

The program will, starting next month, allow people to donate to eligible rural hospitals and instead of receiving a tax deduction, they would instead receive a tax credit.

On Friday, hospital officials heard a presentation on the new program.

Stephens County Hospital Administrator Lynne Anderson said it is designed to provide more of an incentive for people to donate to rural hospitals like Stephens County.

“There is a difference between a tax deduction and a tax credit,” said Anderson. “We have always been able to take donations and give a tax deduction. It is my understanding the tax credit is more beneficial to the donor.”

Only 49 hospitals are eligible to offer this tax credit to donors.

The state ranked those hospitals based on their financial need and Stephens County Hospital was tied for third in that ranking.

Anderson said that ranking took into account many factors and is meant to show at what hospitals the donations would be of the most help.

“They then looked at the past financials for the 49 hospitals as well as their five-year viability plan and what they intended to do with the donations and then did the ranking as to what hospitals would benefit the most from the donations and we were third on that list,” said Anderson.

She said the ranking is not meant to be a point of concern.

“I think in some instances, I have heard people worry that means the hospital is not viable and I would say that is absolutely not true,” said Anderson. “We are viable. We are working hard to do the things we need to do to continue into the future. These donations allow us to do that. The fact that we are ranked as far as needing donations just says to me that we could benefit the most from it. It does not mean that we are the financially poorest hospital in the state.”

Anderson said that Stephens County Hospital is also making progress in other areas designed to bring in more money, such as adding doctors and services in the past few months, and she says those have already brought some revenue increases.

Meanwhile, for those interested in the Rural Healthcare Tax Credit program, Anderson said they should talk to their financial advisor.