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Nevada Regional Medical Center Board of Directors elect officers
The Nevada Regional Medical Center (NRMC) Board of Directors met in regular session Tuesday evening in the Mezzanine conference room at the hospital.
Starting off the meeting, under "Board Education," the board discussed an article from Becker's Hospital Review (dated Jan. 20, 2023), titled "17 hospitals, health systems cutting jobs." The article gave examples of workforce reduction efforts or job eliminations that were announced for several hospitals and health systems within the past two months and/or take effect over the next month. These reductions are due to financial and operational challenges.
Next, NRMC Chief Executive Officer Jason Anglin gave his administrative report. He noted that agency cost is higher this year than what it was in the first part of last year. In addition, the hospital's bond days of cash decreased from 29 days in October to 22.8 in November and 16.3 in December. Gross Accounts Receivable days increased from 75 days to 76 days in November and decreased to 74 days in December.
Anglin also noted that the hospital has registered 14 pharmacies for the 340B Program. The estimated annual impact of this is over $200,000. The 340B Program enables covered entities to stretch scarce federal resources as far as possible, reaching more eligible patients and providing more comprehensive services. Anglin stated that they are anticipating adding the Nevada Medical Clinic (NMC) to the 340B Program in April, once survey is completed.
In approval items, the board unanimously approved of Rural Hospital Group consulting. This would provide management assistance services and financial improvement initiatives. This six month agreement would come at a cost of $250,000 with an estimated return on investment/savings of $1.8 million. The hospital has requested the funds for this consulting from the Nevada City Council in the form of American Rescue Plan Act (ARPA) funding. If approved upon second reading at the Tuesday, Feb. 7, council meeting, this is how the service will be paid for.
Finally, the board of directors held an election for board officers. After motions, seconds, and unanimous board approval, Bob Beaver will continue as the Board Chairman. Mike Brown will also continue on as the Board Vice Chairmas. Additionally, Dana Ellis was elected as the Board Secretary.
With a motion, a second, and unanimous vote, the board adjourned to executive session.