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Posted on Jul 5, 2019

Hospital finances hold steady, show small profit

Financial numbers for May show a small profit for Quincy Valley Medical Center.
The results are “pretty startling” compared to the center’s year ago numbers, said Commissioner Don Condit at the June 27 meeting of the board of Grant County Public Hospital District No. 2.
Commissioner Anthony Gonzalez was absent from the meeting.
Condit, giving the financial committee report, introduced Jim Heilsberg, whom he called “interim CFO.” Heilsberg generates some of the financial information presented at board meetings, Condit said.
“We’ve done what we can to keep costs under control,” Condit said reviewing the report.
Commissioner Randy Zolman added that the small profit is due to levy income. CEO Glenda Bishop agreed. The maintenance and operations levy has “done for us what we said it would … it filled in the gap.”
“Your team has done a heck of a job reining in expenses also,” Zolman added.
In QVMC’s income statement covering May, net income is about $15,600. In April, net income was $19,800. Comparing the year-to-date numbers, 2019 still looks significantly better than 2018: net income January through May this year is negative $58,800 compared to negative $507,600 in 2018. If the depreciation and amortization figure is removed, then 2019 to date shows a profit of $52,800, compared to a loss of $391,500 a year ago.
Also during the June 27 meeting, the hospital district’s auditing firm, Dingus, Zarecor & Associates, presented its audit report covering 2018, and discussion followed. Luke Zarecor said the audit went much more smoothly than in the first year the firm did the district’s audit.
A visitor from the state auditor’s office was also present. Bishop said later that the auditing firm routinely invites the state auditor to each of its presentations.
Moving to the administrator’s report, Bishop expressed gratitude for her administration team for keeping things under control while she was away for a family emergency. While Bishop was out, Newton Moats, QVMC’s general services director, handled a scheduled meeting with Collins Woerman, an architectural firm studying QVMC’s physical facility, and he reported that the meeting was productive and that Samaritan Healthcare’s CEO, Theresa Sullivan, attended.
Bishop also informed the board of laws passed that will significantly change how QVMC does its staffing in nursing and tech, starting in 2021, she said. An impact will be seen in wages, and “rather than have folks on-call, we will probably will have to add some personnel.”
She took some time also to note the death of Ben Lindekugel, executive director of the Association of Washington Public Hospital Districts. Lindekugel was a major cheerleader for Quincy, she said, as QVMC sought its way forward and held meetings with community members, some of which Lindekugel attended.
Other matters addressed in the meeting included:
• Kelly Robison made a very brief introduction to her quality improvement report for the board. The board voted to accept the report.
• A motion carried to surplus out an older piece of equipment.
• A motion passed to apply a grant to a technology purchase. Tom Richardson, QVMC’s director of information systems, said the board had approved purchase of six laptops with docks and 27-inch monitors for the clinic. The purchase is funded by a grant of $10,000 from the Lauzier Foundation.

By Dave Burgess, news@qvpr.com