The Lamb County Board of Managers met for their regular meeting on Tuesday, May 17th> at noon in the Education Room of Lamb Healthcare Center.
Members Present: Tony Barton,
Members Present: Tony Barton, President; Steve Busby, Vice-President; Carla Synatschk, Treasurer; Jeni D. Brunson, Secretary; Johnny Rosemond and Cindy Muller.
Members Absent: Booner Smith and Evan Maxwell.
Hospital Staff Present: Cindy Klein, CEO; D’Ann Craig, Administrative Assistant; Stacie Styron, DON; Elizabeth Vargas; Dr. Rolando Rodriguez, MD; Dr. Cindy George, MD.
Visitors Present: Lea Anne Porter – Texas Hospital Association; Al Goforth – Texas Hospital Association; Ray Tilotta – Rudd & Wisdom.
The meeting was called to order at 12:05 p.m. by Board President, Tony Barton, and there was nobody present for open forum.
After a review of the April 19, 2022, minutes, Cindy Muller made a motion to approve the minutes and it was seconded by Johnny Rosemond. The motion carried. **To accommodate the guests, present at the meeting, number VII on the agenda (Retirement Plan) was moved to the beginning of the meeting for presentation.**
Lea Anne Porter with THA, Al Goforth with THA, and Ray Tilotta with Rudd & Wisdom presented to the Board a proposal for a retirement plan that the Hospital would be able to offer to its employees. It focused on the comparison between the Hospital’s current retirement options and what their plan would offer that would be more beneficial, including significant fee reduction and competitive investment choices.
Once the presentation was concluded, Muller made a motion to give Cindy Klein the authority to begin the process to transfer over to the proposed THA Retirement Plan. The motion was seconded by Brenda Alcaraz. The motion carried.
Cindy Klein reviewed the Financial Report for April with the following information:
On the Balance Sheet, the total amount of AR for Lamb Healthcare Center was $6,500,445. Total investment amount was $0, making Total Cash Flows $6,500,445. On the Income Statement (Actual vs Prior Year), total revenue was $7,805,885 which is down $2,390,756 from the previous year. This is mainly due to a $1,589,899 reduction in Inpatient Covid patients and a $2,025,620 reduction in Outpatient revenue and SleepTek. Inpatient revenue is the biggest factor.
These factors will most likely remain for the rest of the year, unless we have another large increase in COVID patients. Total Operating Expenses were reduced by $967,976 from the prior year. Medical Supplies increased $12,549 due to price increases.
Pharmaceuticals are down $183,089 due to less inpatients per Covid. Lab reagents are up $57,989 due to increase in cost. Maintenance contracts are down $38,986. Purchased services are down $801,819 partially due to SleepTek and less Covid patients. Electricity is down $15,299. Equipment rental is down $57,558 due to not having SleepTek equipment rental. Repair and maintenance are down $23,165. Physician reimbursement is down $107,944 due to less Covid visits at the clinic.
Depreciation expenses are up $131,634 due to new equipment purchased. Net of income and expenses are $447,947 which is down $1,554,414 due to a decrease in inpatient Covid and SleepTek revenue.
The Board requested that the amounts for Covid/SleepTek differences be listed individually going forward rather than combined.
On the Medical Staff Report, Dr. Rodriguez, MD notified the Board that Medical Staff approved the Initial Appointment of Dr. Mark Wilson, MD with Concord and also the Reappointments of Dr. William Jones, with Concord. Carla Synatschk made a motion to approve the Initial Appointment and Reappointments, and it was seconded by Jeni D. Brunson. The motion carried.
On the Committee Reports, Stacie Styron, DON reviewed the Infection Control, Trauma and QAPI reports for October.
Klein spoke about Employee Insurance, requesting that the Board make a decision on whether or not the hospital should increase the amount paid per employee for health insurance or to leave it as is. The hospital currently pays $390 per employee for insurance. Open enrollment is in June, and this is needed beforehand. Carla Synatschk made a motion to leave the insurance as is, with no changes. The motion was seconded by Steve Busby. The motion carried. Klein spoke regarding Capital
Klein spoke regarding Capital Equipment, notifying the Board that Dietary is in need of a new dishwasher. She presented a proposal from Pasco Brokerage to purchase a new dishwasher in the amount of $35,006. Brunson made a motion to approve the purchase and it was seconded by Synatschk. The motion carried.
3 YEAR PLAN:
Klein notified the Board that the 3 Year Plan Committee met to discuss the needs of the Hospital and priorities that should be focused on the most in the future. Four items of the most importance were: Hiring one to two new doctors, creating a Sleep Center for testing, renovating/remodeling the OB wing of the hospital, and another potential opportunity that would bring revenue in for the hospital.
Klein gave the Administrator Report informing the Board that a silent auction has been approved by the County and will be held once it has been advertised at least twice in the hospital. The hospital will also be having a 340B Audit in June.
A motion was made by Synatschk to excuse the absence of Booner Smith and Evan Maxwell and it was seconded by Brunson. The motion carried.
With there being no further business to discuss, Synatschk made a motion to adjourn, and that motion was seconded by Rosemond. The motion carried and the meeting was adjourned at 2:29 p.m.