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Hospital Financial Updates - May 2016
Submitted by Jenny Clowes on Fri, 08/05/2016 - 13:22
For those of you who don’t know me, my name is Jenny Clowes and I am the Chief Financial Officer (CFO) at Broadwater Health Center (BHC). I grew up here and over two years ago returned to my hometown to work for Broadwater Health Center. I wanted to use my skills as a Certified Public Accountant (CPA) to help my community and the hospital move forward and I wanted to bring my children home to experience the same positive quality of life growing up that I had.
Let me start off by saying that the hard work the community and employees have done has paid off! The hospital is currently operating the Nursing Home at full occupancy. That means 32 residents have a home with us and a waiting list has been started for others. Inpatients in the hospital beds has in-creased from zero to two people per day to three to five people per day consistently. For the past two years the clinic had been seeing an average of eight (8) patients daily but this last quarter we’ve seen our daily patient visits double to an average of 16 a day with a record of 25 one day. A small but significant re-model was done on our upstairs clinic for pennies on the dollar through volunteer efforts and we are very proud of the way it turned out.
As you can imagine, the increase in visits and the increase in residents certainly has a positive financial impact on our bot-tom line. More volume means more labs, more radiology, and more rehabilitation patients. We’ve now had four months in a row where our gross revenues have equaled or exceeded our expenses. I also think it is important for you, the community, to know that throughout these three-and-a-half years of recovery there has been $2.2 million in loans paid off and $12 million in payroll rolled back into our economy.
Obviously seeing high volumes of patients also means we are looking at the need to increase staff. Nursing is our highest priority at the moment and while we are currently recruiting, word of mouth still remains one of the strongest means to recruit. So if you have any friends or family in the nursing industry please ask them to contact us.
As we continue to look forward, the three related hospital boards have begun working on the newest strategic plan. There will also be community wide meeting for added discussion when we get the framework set. Some items we are discussing as possibilities for the future include -
- Potential clinic expansion with extra space for other pertinent services like dermatology or cardio rehab.
- A small assisted living expansion on our campus (USDA has given approval of funding for this project).
We are also about to send out our Community Health Needs Survey. We mail this survey every three years to approximately 900 residents and the results are what helps us plan for the needs of the community. The last survey resulted in the hospital adding a CT scan, Mammography Bus, MRI, and mental health service.
We look forward to continuing our work with the community by providing care for our neighbors, our friends and our families. – Jenny Clowes