FMC Board of Trustees Meeting – November 2024
FALLON MEDICAL COMPLEX, Inc.
BOARD OF TRUSTEES MEETING
Wednesday, November 6, 2024
MEMBERS PRESENT ABSENT
Curt Arnell, President
Evelyn Neary, Secretary
Elaine Stanhope, Board Member
Erin Lutts, Board Member
Michele Gray, Board Member
Del Espinosa, Board Member
Dru Burk, Board Member
OTHERS PRESENT
David Espeland, CEO Tammy Reetz, Materials Management
Marjorie Losing, CFO Karol Zachmann, Foundation
Heather Schwindt, Recorder Judy McWilliams, QA/Infection Control
Chris Hopkins, MHN CEO
I. CALL TO ORDER
Curt called the meeting of the FMC Board of Trustees to order at 5:30 p.m. in the FMC Community Room.
II. Public Comment– There was no public input.
III. APPROVAL OF MINUTES
No additions or corrections to the October 9, 2024 board minutes as distributed. Erin moved to adopt the approval of the minutes. Evelyn seconded the motion. All aye, 0 nay. Minutes stand approved as written. Curt Arnell introduced Dru Burk as a new Trustee.
IV. CHRIS HOPKINS, MHN – CEO
- Chris Hopkins introduced himself and gave an overview of FMC’s involvement with MHN and explained in detail what the function of MHN is and how it benefits FMC. He also overviewed the products and services they develop based on the needs of the members.
V. MANAGER REPORTS
- Tammy Reetz discussed her her department and reported on the size of her staff and scope of how they keep the facility stocked with the supplies needed at the best costs. She updated the board on how her department prepared for known supply shortages due to the hurricanes this past fall.
- Karol Zachmann discussed her role as Lifeline Manager, Home Healthcare Supervisor and the Friends of FMC Coordinator. She noted the members of the Board of the Friends of FMC Foundation and discussed in detail the events that the Foundation held this past year and the amount of money each event made and where in the facility the money was spent. She also reported the committees that she is involved with on behalf of the Foundation and FMC, her duties as the Lifeline Manager, and her duties and role with the Home Healthcare services that FMC can provide to the community.
- Judy McWilliams presented to the Board a dashboard report in detail. She also discussed the QA Process and discussed the purpose of QA and how it helps us improve how we operate. She gave the board an overview of the areas that state inspecitons highlight and the process that we use to make the suggested improvements.
- VI. FINANCIALS
- September Financials: Marjorie discussed the September financials in detail. September had 32 inpatient days and 16 skilled days. Financials: Gross Patient Revenue $966,000, $118,000 over budget. Net Operating Revenue $1,080,000, $207,000 over budget. Expenses $1.1M, $45,000 over budget. Operating Loss ($20,000), $162,000 on the positive side of the budget. Non-operating Income $87,000. Net Income $67,000, $162,000 on the positive side of the budget. YTD Gross Patient Revenue $2.6M, $41,000 over budget. Net Operating Revenue $3.1M, $500,000 over budget. Expenses $3.4M, $175,000 over budget. Operating Loss ($231,000), $328,000 on the positive side of the budget. Non-operating Income $214,000. Net Loss $16,000, $308 in the positive side of the budget. YTD Stats Inpatient days 53, 48 in the budget. Swing days 1,522. Ancillary Services: ER is ahead of the budget with 249, Procedure Room is below budget, Observation is ahead of the budget. Lab and Blood Bank are slightly below budget. X-Ray and CT are ahead of budget. Mammography and Ultrasound are below budget. PT and OT are ahead of budget. RHC 1,031 visits with 1,046 in budget. Outpatient encounters are a little below budget. YTD Change in Cash Equivalents ($655,000).
- Early-Out Proposals/Alternate EMR’s: Marjorie has been unable to find an early-out company willing to take on our business. When TruBridge was helping with our Accounts Receivable a number of months ago, one of their people was maintaining our existing accounts. When their contract ended, we didn’t have anyone to take up that work. Due to deficiencies in the Thrive system, we have been using manual billing processes, which are causing our accounts receivable to fall behind. If we do not file claims in a timely manner, we need to writing off more revenue, which could possibly be salvaged. All of the delays are also making it difficult to get our new collections policy in place. The board discussed keeping the 12-month stipulation on self-pay accounts. Margie is still trying to communicate with other facilities about what solutions they are using for these issues.
- 3D Mammography Funding: Marjorie presented the final loan amount for the 3D Mammography machine, after applying funds from recent fundraising activities. The board resolution authorizing the purchase was approved at the October regular board meeting and loan papers are being finalized by the lender.
VII. OLD BUSINESS
- Trustee Nominations: Evelyn reported the nominee she spoke with is not interested in being a trustee. Del was unable to speak with the other suggested nominee. The board discussed whether they wanted to include a “write-in” option on the ballots. It was decided to do it this year. There are no additional nominees to run against the two incumbents in this election cycle.
- Gas Line Leak: A second gas leak was found and fixed. We were asked if the County Commissioners would consider changing the line down from a 4” pipe to a 1” or ¾“ pipe. We are getting a proposal from the engineers on what that would cost. This would have to be presented and discussed with the Commissioners.
VIII. NEW BUSINESS
- Midlevel Employment Interview: Heather reviewed the CV of a potential provider who is being interviewed November 11, 2024 and asked the board for their availability on that day. Heather discussed the timeline of processes to transfer licenses and do background checks and insurance credentialing if it is decided that he is a good candidate.
- Trustee Election Process: The Board discussed and decided that the process for Trustee Elections this year will be held by mail-in ballot.
- Meeting Agenda: The proposed Agenda for the Annual meeting was discussed.
- Meeting Notice for 12-11-2024: The annual meeting notice and ballots will need to be send to the members no later than November 25, 2024.
- Credentialing: The list of proposed providers to be credentialed was reviewed. Evelyn made a motion to approve the list to be credentialed. Elaine seconded the motion. All aye, 0 nay.
- The Board adjourned their regular session having completed the agenda.
- IX. CLOSED EXECUTIVE SESSION
- A. Provider Contract Renewal: Dru made a motion to offer a contract renewal for a provider. Erin Seconded the Motion. All Aye, 0 Nay.
________________________________
Curt Arnell, President
Heather Schwindt, Recorder and Transcriber
