Medical center rides improved financial results into April
At the local hospital board meeting on May 28, some positive numbers were discussed.
Quincy Valley Medical Center ended April with net income of a little more than $20,000 for the month. The positive result followed on the heels of about $25,600 net income for the month of March.
Commissioner Anthony Gonzalez was absent from the May 28 meeting of the QVMC board.
Commissioner Don Condit began a finance committee report by reviewing the summary of the results for April. Included in the summary were these statements: Cash balance continues to improve with tax revenue and positive performance from operations; net accounts receivable days are slightly lower this month compared to 2018.
“I think we are holding our own,” Condit said, “looking at operations based on the financial statements we have here. … They look pretty strong. … things can always be better.”
After the meeting, Brian Kuest, a commissioner with the Port of Quincy who collaborates with the hospital on its Legacy Project and attends board meetings, had his view to add.
Commenting on the income statement provided at the meeting by the QVMC controller, Rod Shrader, Kuest pointed out that across the first four months of 2019, net income with the depreciation and amortization backed out of it left a positive sum of $2,200.
That is a much improved result over the first four months of 2018, when net income with depreciation and amortization backed out came to a negative $304,000.
It’s significant, Kuest said, considering where the hospital’s financial results have been the last couple of years.
In other hospital business, the board voted in favor of two business items, to approve Telestroke privileges by proxy for a physician and to make a minor change medical staff bylaws.
The board also chose to shift the next meeting to June 27 at 6 p.m.
Bishop said an audit report is done but couldn’t be on the agenda because of a schedule conflict. The audit report may be presented in the next meeting.
Bishop gave a positive review of the At the Heart of Care event held recently at QVMC’s Sageview Family Clinic in conjunction with the newly formed Grand Columbia Health Alliance. She said QVMC’s event was the second-highest producer among the five hospitals participating, which adds to her appreciation for the Alliance. The hospital promotes the regional organization at the entrance of its business office, calling attention to the advantages of cooperation among member hospitals.
Agreement with Samaritan forms foundation for more
A master services agreement between Quincy Valley Medical Center and Samaritan Healthcare of Moses Lake (technically, between Grant County Public Hospital District No. 2 and Grant County Public Hospital District No. 1) has been signed by both and forms the basis for the developing alignment between the two.
Samaritan signed the agreement on April 30. It had been signed by QVMC in March.
Comments about the master services agreement, or MSA, provided by Samaritan CEO Theresa Sullivan state:
• The agreement establishes the governance and operational infrastructure of the partnership, and sets the processes by which services between the organizations can be added in the future. In order for services to be shared, those plans and service outlines would be added via addendums to the original MSA.
• The next steps in the partnership will involve both organizations working together to identify the needs for services, and then collaboratively plan and present those programs and services to each board as needed by Quincy/Samaritan.
• Samaritan and Quincy leadership teams continue to regularly meet to discuss the evolving partnership.
By Dave Burgess, firstname.lastname@example.org