Yuma District Hospital has been authorized by the board of directors to access up to $2 million of the district’s investments to help cover operations cost.
The move came during the YDH Board’s regular monthly meeting on January 24.
Interim CEO Ted Beckman made the request to board members Monica King, Mitch Korf, Delaina Klein and De Ann Rawson Sewell. Board member Robert Dorothy was absent.
It had been addressed earlier in the meeting when an employee voiced her concerns about the hospital district operating at a $2.5 million loss. She added she was anxious to hear where the the process is in regards to hiring a permanent CEO.
“I’m really hoping the person you selection has the experience and skills to get us out of the red so we can still serve our community,” she said.
Later in the meeting Beckman made the request to the board. The district has $8.6 million with Raymond James Investments, and Beckman requested up to $2 million to make sure staff can be paid monthly and for day-to-day operations. The money will be accessed in smaller amounts.
Korf noted the district did well with expenses in 2023, with the loss coming in less revenue. King noted COVID-19 funds helped the district through that crisis, but many rural hospitals are struggling.
Klein stressed the need to keep figuring out how to stop the bleeding, and it worries her dipping into that cushion.
Korf said: “It’s there for a rainy day, and it’s storming.”
Rick Korf provided the financial update during the meeting, noting the $2.5 million loss for year. He said the hospital is way down in the number of patients. Most of the loss, about $2.2 million, is on the hospital side, adding that is where a medical facility makes money, including surgery.
Board members had questions about how to get more people into the facility. Beckman said the staff is working on multiple angles. He talked about having a welcoming environment and building trust.
“We have to build revenue,” Mitch Korf said. “How do we drive the revenue side? We have a really good facility here, we have to use it to the fullest.”
CEO search
The board held an executive session to discuss CEO applicants. King had mentioned earlier in the meeting there were six candidates. The district is working with the search firm AMN.
After the executive session, it was explained the applicants are to be notified first for interviews before their names can be made public.
Interviews are being held through Monday, February 19. The finalists will be announced sometime shortly after the interviews are completed.
Yuma District Hospital & Clinics has been without a permanent CEO since Beth Saxton retired last summer. Beckman has been serving as the interim since then.
Meeting
The board and staff covered several topics during the January meeting.
The lab certification is under a conditional status at the moment. The district has to take certain steps, including an action plan.
Home health has had to rely on contract labor. The district is exploring alternative models, such as a visiting nurse program.
The annual review of the Department of Medical Directors was unanimously approved.
There was a long discussion on the annual QAPI Measures, concerning quality of service and patient safety.
The board approved having the monthly meetings on the fourth Wednesday of each month, and a 5:30 p.m. start time. The next board meeting will be February 28.