Financial position at BBGH still strong
The Box Butte General Hospital Board of Trustees met Monday, October 29 at noon to go over the annual audit for fiscal year 2017-18 with Dohman, Akerlund & Eddy, LLC (DAE) representative Kurt Moural. The nearly hour and a half long audit report went over the hospital’s strong financial health in detail, with Mr. Moural reporting that the hospital had a clean audit opinion.
The audit’s Statement of Financial Position shows the hospital’s assets total $66,537,989, nearly $500,000 less than last year. A significant contributor to the decrease is continued high depreciation taken on the hospital’s assets due to the new addition. Total operating revenue increased $1.66 million from last year, to $40,923,368. The Statement of Cash Flows shows an increase in net cash provided by operating activities of $4,693,091 compared to last year’s $3,842,151. The Current Ratio, defined as current assets divided by current liabilities, shows BBGH’s ratio decreased slightly, from 4.8 to 4.4. Mr. Moural said BBGH’s overall liquidity continues to be very comparable with the DAE peer group. Days Cash on Hand increased from 95 days to 110 days in 2018, exceeding the covenant of the USDA loan requiring 90 days cash on hand. Days in Gross Patient Accounts Receivable are also comparable to DAE averages, coming in at 74, a slight increase from 70 days in 2017.
After answering several questions to clarify statements made in the audit’s notes section, the Trustees voted unanimously to approve the audit as presented.
The Trustees also conducted the following business.
The Board recognized Brianna Thompson as the Employee of the Month for October. She was a tech in the Rehab & Wellness Center at the time, recently transferring over to Patient Financial Services. Also recognized were Brianna Smith-Cole, who recently completed her registered nurse education and is an RN for the surgery department now. The recognition segment of the meeting was topped off with the announcement that Martha Douglas, Speech-Language Pathologist in the Rehab & Wellness Center, was recognized at the Nebraska Brain Injury Conference as the 2018 Nebraska Brain Injury Alliance Advocate of the Year. The board then welcomed new employees Sam Gilmore, hospital registration clerk; Gail Kulas and Brooke Galles, clinic registration clerks; Kaylin Elliott, RN; Dwanequa Murphy, RN and Nikki Akers, RN.
After unanimously approving the consent calendar, Chief Quality Officer Mary Mockerman gave her monthly Quality Management and Safety report. She said the hospital is part of the Nebraska Resource Bridge, which helps track resources, alerts and communications. It is a database-driven web application servicing all areas of the state whether rural or metropolitan. It is designed to track bed, pharmaceutical and resource availability from all designated facilities in the state as well as providing for allocation of these resources to support surge capacity needs. Hospital bed diversion status, emergency event planning, emergency chat, and alert notification are supported in real time. Ms. Mockerman said the particulars of the system will be detailed in more depth in November. She also touched on the status of influenza in Nebraska, with no cases being reported.
With no chief of staff report and no financial report given due to the just completed audit, CEO Lori Mazanec gave a brief update on physician recruitment. Contract negotiations are in the final stages with a Hospitalist specializing in Internal Medicine, with the plan to begin in December. She reported that two physician site visits are also planned in November, saying she’s excited about that development since both have a focus in Family Practice/Obstetrics.
After all credentialing requests were unanimously approved, Ms. Mazanec informed the board that the trustee election of officers would be held at the next regular meeting so that current Chairman Dr. Tom Furman could be present. She said her annual evaluation is due in November necessitating an executive session.
With no further business, the board adjourned at 1:51pm. The next meeting will be held Monday, November 26 in the hospital’s Alliance Room at the regular time of 6:30pm. The public is invited to attend.
Box Butte General Hospital is an equal opportunity provider and employer.