Alva Review-Courier -

Share Medical Center is going to implement a program with a company that will offer some financing options for patients. CFO Angelica Brady told the Alva Hospital Authority (AHA) Tuesday that this program “will help those patients who have high deductible health plans.” She said the program will also benefit those who have old balances with the hospital.

When patient debt is financed through this company, the hospital will be paid up front improving their financial position. The company will also be responsible for working directly with the patients on payments.

AHA trustees present for the meeting were Chairman Jason Gaisford, Dr. Ken Brown, Dr. Halah Simon and Greg Bowman. Dr. Bo Hannaford and Jay Randels were absent.

CEO Report

Share Medical CEO Kandice Allen reported on new staff hires. “For the most part we have all of our positions filled except for a couple in nursing,” she said.

She said HR is doing a wage survey and will compare it to the Oklahoma Hospital Association report. “Obviously, we want to remain competitive in the market so that we can recruit and maintain the current staffing,” Allen said.

Just before Tuesday’s meeting, Allen said she received a notice from the OHA (Oklahoma Hospital Association). “The threats of hacking have really been turned up, and the government, FBI and all those agencies are sending out warnings to hospitals. We hate to hear that,” she said.

In the surgery department, Dr. Hummel had four cataract operations, and Dr. Gregg did ten general procedures. Allen said she hopes to learn in the next couple of weeks whether the hospital has a surgeon or not. Walls have been painted and carpet laid in the surgery department.

Nursing students from NWOSU were at the hospital the previous week following nurses and learning to start IVs.

Allen said medical providers have been “super busy in their clinics.” She said the influx of new patients has been challenging since each usually requires a one hour initial visit. She said the Waynoka clinic had seven in one day on Monday. “We’re trying to figure out how to help them,” Allen said.

An IV infusion contract has been put on hold for now, according to Allen. She said it will require a cash outlay of $24,000.

The downtown clinic is ready for their survey to be designated as a rural health clinic. No date has been set yet.

Allen said the hospital will be able to add the downtown clinic to their 340B program, which will generate significantly more revenue. Bowman asked her to explain 340B. “It’s specific drugs that are on a list. It’s good for the patients because they get them at a reduced cost, but we also get a cut of that money from the manufacturer in concert with Holder Drug and Walmart,” said Allen. “They make a little off of it. We make a little off of it as well. And it’s to help those patients get it at a reduced cost.”

CFO Report

CFO Brady told trustees the hospital’s cash flow was down at the end of September due to a couple of issues. “We’re still working to correct our Medicare reimbursement issues. Those should all be resolved in October,” she said. The other issue involves payables accounting. She said those totals are pulled on Fridays, and September ended on a Friday resulting in five weeks of payables instead of four, making the total higher than usual.

Operating cash balance for September was $76,973 representing 2.3 days of operating expenses, excluding depreciation. Accounts receivable balance was $4,322,234, an increase of $97,915 during the month. Accounts payable balance for September was $777,303 representing 54.6 days of operating expenses excluding costs of salaries, benefits and depreciation. The hospital had a net loss for September of $215,953.

Brady said as of September, the hospital revenue was at 20 percent of the year’s budget when it should be at 25 percent so “we are under a little bit where we need to be.” In comparison, expenses are at 25 percent of the annual budget.

In the department meeting, Brady said they had a conversation with staff explaining the hospital is spending more money than it is taking in. They asked staff to consider purchases to make sure they are truly necessary. “Hopefully that will help get those expenses back on track,” said Brady.

The agenda called for discussion and action on the West-Com Nurse Call System for an amount not to exceed $199,187.88 but Gaisford said they weren’t ready to act on that so it was tabled.

Credentialing

Allen presented two medical providers for credentialing. The trustees approved reappointment to allied staff of Gwyn Holder APRN and appointment to active staff of Brian Cook DO. Holderby is a clinic provider while Cook is an ER provider.

Share Convalescent Home

Share Convalescent Home Administrator Kelly Parker reported the operating cash balance for September was $287,812 representing 32.2 days of operating expenses excluding depreciation. Accounts receivable balance was $1,491,924, a decrease of $26,752 during the month. Accounts payable balance was $40,601, representing 12.1 days of operating expenses. The convalescent home had a net loss for September of $89,825.

Parker said census numbers for August and September were terrible. However, both regular and skilled nursing patient numbers are better for October. He hopes this will make an impact on the next financial statement.

He said there will be a rate increase in January 2023 based on cost of living. The percentage of increase has not yet been determined.

Gaisford asked Parker how many residents would be best for the nursing home. Parker said with current staff, “we need to be running around 34-35.” He said too much of an increase would require several more staff members, but they are where they need to be now on staff.

New LED lights have been installed in the solarium at the nursing home. Parker said it used to be really dark, but now “it’s incredible.”

He said he plans to talk with the AHA finance committee about other options for the nursing home HVAC project which has been “dragging on too long.”

Baylee Miller has completed the Northwest Technology LPN program and plans to stay with Share Convalescent.

Homestead

Parker also gave the Homestead report. He said they had a slight reduction in revenue in September compared to August. The Homestead had a net income of $10,533 for September, compared to $19,626 in August.

SMC Foundation

Parker said letters and phone calls will be going out to SMC Foundation supporters on their first major project since 2012 when they needed funding for the transition to electronic health records. He said the hospital is trying to replace all beds which will cost around $180,000 to $190,000. Half of that amount is already covered, and they hope the foundation can raise enough funds for the remainder.

A video of the meeting may be viewed at http://www.AlvaReviewCourier.com.