FMC Board of Trustees Meeting – October 2024
FALLON MEDICAL COMPLEX, Inc.
BOARD OF TRUSTEES MEETING
Wednesday, October 9, 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
OTHERS PRESENT
David Espeland, CEO Linden Krech, Housekeeping Manager
Marjorie Losing, CFO Brad Kings, Maintenance Manager
Heather Schwindt, Recorder & HR Director
| 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 INPUT – There was no public input. III. APPROVAL OF MINUTES One correction to the September Minutes was noted under the Executive Session. Del moved to adopt approval of the minutes upon the correction being made. Erin seconded the motion. All aye, 0 nay. Minutes stand approved upon correction. IV. MANAGER REPORTS Linden Krech reported she has been the Houskeeping Manager for 9 years. She reported on all of the areas of the facility that her staff maintains and that she has three employees with the capacity for five. The tasks have been re-assessed to ensure we are maintaining our standards within the facility. Brad Kings reported that he and his staff do general maintenance for the facility as well as for Parkview when County Maintenance is not available. Brad reported that the equipment failures from the power bump last April are about 90% repaired. He has one employee who is learning and doing well. He reported on a gas leak that required special welding, leaving us without gas for a few days but the repairs have been completed. V. FINANCIALS July/August Financials: Marjorie went through the July and August financials in detail. July had 5 inpatient days and 2 skilled days. Financials: Gross Patient Revenue $765,000. Net Operating Revenue $862,000, $40,000 under budget. Expenses $1.2M with $208,400 for the Rural Medical Partners buyout, the auditors may pull that back to FY 2024, $155,000 over budget. Operating Loss ($381,000), $193,000 on the negative side of the budget. Non-operating Income $161,000. Net Loss ($319,000), $210,000 on the negative side of the budget. August had 16 inpatient days and 20 skilled days. Gross Patient Revenue $910,000, $33,000 over budget. Net Operating Revenue $1.2M, $330,000 over budget. Expenses $1,068,000.00, $22,000 under budget. Operating Income $170,000, $359,000 on the positive side of the budget. Non-operating Income $65,000. Net Income $236,000, $345,000 on the positive side of the budget. YTD Gross Patient Revenue $1.6M, $76,000 under budget. Net Operating Revenue $2.1M, $297,000 on the positive side of the budget. Expenses $2.3M, $130,000 over budget. Operating Loss $210,000, $166,000 on the positive side of the budget. Non-operating Income $127,000. Net Loss $83,000, $135,000 on the positive side of the budget. YTD Stats Inpatient days 21, 32 in the budget. Swing days 1,023, with 907 in the budget. Ancillary Services are below budget except for CT, PT, OT. RHC 709 visits with 705 in budget. YTD Change in Cash Equivalents ($167,710). Early Out Proposals/Alternate EMR’s: Data is being compiled in order to get quotes from early out service companies. Thrive is no longer offering early out services, but offered use of Multiview, with a $400/month reduction to our bill. We declined that offer. Multiview contacted us outside of Thrive and a call is scheduled to discuss options. Margie will report back to the board. EPIC is the top tier EMR, however, start-up is $2.5M to implement and $1.0M annually to maintain. CERNER is another EMR, used by Billings Clinic. They do not allow use through their system unless we are affiliated with them. They are working on a proposal for Circle to use CERNER without a formal affiliation; they have offered to talk again once that has been accomplished. Several facilities in the area have reported that they do not recommend CERNER. 3D Mammography Funding: The Foundation met and agreed to donate excess profit from the OBCAL luncheon from previous years, and for the next five years, after covering the cost of Omnicare each year. $4,500 was allocated this year. Additionally, Denbury donated $11,500, leaving a total of $275,800 to be financed. Margie presented a resolution to the Board to obtain the loan. Erin made a motion to approve the resolution, Del seconded the motion. All aye, 0 nay. Loss Leading Departments: Margie presented a simple spreadsheet showing all of the revenue generating departments and where they fall as loss leaders or profit generators at the end of FY 2023. If we want more detailed costs per department, another report can be generated to look more in depth at where our losses are coming from within each department. VI. OLD BUSINESS Omnicell ADM Replacement Proposal: The initial cost of $219,000 has been lowered to $129,000 with discounts from signing a sole source commitment letter. The new system will be installed starting in October 2025. The final payment is due upon completion of installation. We are seeking additional funding through grants with the assistance of EPDEC to further lower the cost. Funding options will be re-visited in August/September 2025 for the remaining balance of the Omnicell. Mill Levy Project: The County Commissioners signed the commitment letter to authorize SDI to start the remodel projects proposed to be funded by remaining mill-levy funds. We can now finalize the designs with SDI, which will be submitted to the Commissioners for final approval. Once that’s completed, SDI can work on bid documents, and then put the project out for bid. Final contractor selection will be made by the Commissioners. We are hoping to have the project started this spring. Home Health Status: We received notification from DPHHS that they did not relicense our Home Health Agency due to us not having a supervising nurse for that department. Our Certificate of Need is still in place, so when we find a nurse who is willing to take on the responsibility, we can re-apply for reinstatement of our Home Health license. This does not affect our Life Line services. VII. NEW BUSINESS Trustee Nominations: Dru Burk was contacted and is willing to assume the remainder of David Kirschten’s term ending December 31, 2025. Evelyn made a motion to accept Dru Burk, Elaine seconded the motion. All aye, 0 nay. Elaine and Curt are both running for nomination. Evelyn stated she will contact Bonnie Newberry and Del will contact Rod Kilsdonk to see if they are willing to run, too. Annual Meeting Date/Record Date for Election: The Board set the annual meeting date for December 11, 2024, unless the Foundation meeting is that evening, if so, then it will be set for December 12, 2024. The record date for the upcoming elections was set as October 11, 2024. No additional applications for membership will be allowed after that date. The Board adjourned their regular session having completed the agenda. VIII. CLOSED EXECUTIVE SESSION s\ Curt Arnell, President s\ Heather Schwindt, Recorder and Transcriber |
