The following information stems from details and items discussed at yesterday’s Dickinson County Healthcare System Hospital Board of Trustees meeting.
The hospital board reviewed and approved the financial report for March of 2019. The healthcare system had $8,231,703 in total operating revenue and expenses totaling $7,824,342 that resulted in operating income of $407,361. After the calculation of non-operating revenue and expenses, March closed with a positive bottom line of $248,030.
The DCHS Interim CEO, Jeanne Goche provided a Restructuring update:
A high-level Restructuring Plan has been completed and the implementation of the plan will occur over the next few weeks. DCHS has a great staff of very talented, hardworking people. Key employees have been identified, and through additional training and added support, they will be provided the opportunity to continue their great work in helping to lead the organization. Through natural attrition it seems that the number of layoffs required in the plan is much less than expected. The layoff of a dozen or less employees is a realistic yet conservative estimate. We are sympathetic to those that may lose their jobs and a support system will be available through our Human Resources Department to assist with transition and possible job placement opportunities.
As part of the Quality Committee report, Cathy Hartwig, RN / OB Department Manager delivered an update on the great work being done for expectant mothers. DCHS recently received the Gold Star award from the
Michigan Hospital Association (MHA) Keystone Center in conjunction with the Michigan Alliance for Innovation in Maternal Health (MI AIM). The award recognizes the DCHS staff as one of Michigan’s top level performers in safety and quality improvement initiatives to reduce and prevent maternal morbidity and mortality. Cathy commented, “Our motto in our OB Department is to be READY, and our focus has been on identifying the symptoms of Obstetric Hemorrhage and Severe Hypertension during child birth. We take our jobs very seriously and our staff is very proud to receive this award. It is a testament to the effort of our entire staff and the care that we provide to the mothers in our community.”
During citizens’ time the questions to the Board were focused on the DCHS Defined Benefit Pension Plan and how it has and will continue to impact the plan’s participants. David Brisson, Hospital Board Trustee and Chair of the Subcommittee on Pensions and Retirement, reported that the DCHS Defined Benefit plan is in good shape and there is no crisis surrounding the plan. The Subcommittee approved the hiring of Greystone, an arm of Morgan Stanley, to manage the plan’s assets and the group is very confident that the plan is in good hands. Jeanne Goche added that although the Hospital Board of Trustees and the DCHS Human Resources staff are unable to answer the questions posed completely, experts have been hired to manage and administer the plan and they will be able to answer these questions in the near future.
Tamara Juul, Executive Director of the Dickinson Hospital Foundation delivered an update:
DCHS Scholarship candidate applications are being reviewed by the Hospital Foundation Board of Trustees. The winners of the scholarships will be announced within the next few weeks.
The Hospital Foundation Golf Outing has been set for Thursday, September 5, 2019 at Pine Grove Country Club.
Additional March 2019 Financial Data:
· A review of patient activity throughout the month of March showed the following:
· Cared for 245 inpatients;
· Cared for 13,787 patients in the outpatient hospital setting including the Emergency Department;
· Cared for 9,335 patients in physician offices;
· Cared for 1,112 patients in the Emergency Department; and
· Uncompensated Care provided for the month totaled $604,368.
March’s performance brought the year-to-date for 2019 to an operating income of $732,642. After the calculation of non-operating revenue and expenses, through March the 2019 year-to-date bottom line is a positive $472,759.