The Lamb County Hospital’s Board of Managers held their regular meeting Tuesday during lunch in the Education Room of Lamb Healthcare Center.
The meeting was called to order at 12 p.m. by Board President Carla Synatschk and the invocation was given by Evan Maxwell.
Synatschk spoke briefly during open forum to introduce Kaci Morris, who is a field representative for Rep. Jodey Arrington’s Office. Synatschk also introduced and welcomed to the Board Molly McCarty, as the newest Board Member.
The minutes from the previous meeting were approved as read. The motion to approve the minutes was made by Maxwell and seconded by Johnny Rosemond. The motion carried.
Dylan Brown, CFO, gave the Financial Report, stating, “As of May 31st, we had $1,640,205 in our account and as of today [Tuesday], we have about $1.1 million. For our income statement, we had in-patient revenue under prior year $221,778. Our out-patient revenue is under prior year $311,383, largely due to COVID patients and Sleep Tek. Revenue deductions are under $614,022, since our revenue is lower and we aren’t having as many write-offs. Our other operating revenue is up by $504,310; a large chunk of that is supplemental payments that we have received. Our non-operating revenue is up from last year $27,824, which is the increase in tax revenue that we’ve received.” Salaries and wages are up by $223,623 due to higher individual salaries. FICA Expense is up by $14,557, which goes along with salaries and wages. Group Health insurance is under by $21,409, and audit fees are up by $75,098; they’ve done a lot more work for us this year. Lab reagents are down by $18,907, which is due to having less patients, so they’re not using as much. Pharmaceuticals are down $368,505, due to not using as much.
Maintenance contracts are up by $69,422, due to IT and Lab, collection fees are down by $13,560, and purchase services are up by $221,044, that is nursing and OB. CRNA (Anesthesiology) is up by $15,000, there has been a price increase in the contract by $3,000 per month. Electricity is up by $18,691, equipment rentals are down $22,640, which is Labs, Sleep Tek and Respiratory Therapy. Repair and Maintenance is up by $22,954, that will probably remain over budget the rest of the year.
Travel is up by $10,068, they’ve gone to some conferences this year, that they weren’t able to the past few years due to COVID. Physician Reimbursement is up by $80,891, partially due to the period between Dr. Bass and Dr. Gagnon. Other expenses are down by $17,123.
Depreciation is up by $168,420, and year-to-date they’re looking at a net loss of $1,015,898, which is $164,257 better than last year. Net Revenue for the month with tax support is $8,642,361, and without tax support, $7,727,402.
Cash Flow there was a beginning balance of $2,027,189.90, total deposits of $713,273.55 and total disbursements of $1,100,258,32, which left them with an ending balance of $1,640,205.13.
LHC Family Medicine Revenue before contractuals of $ 170,608, total expenses of $193,135 and a net loss of $22,527. Office visits totaled 1,443, total procedures performed of 3,542, revenue with lab amounted to $231,903.34, revenue with writeoffs in the amount of $202,838.07 and receipts for the month in the amount of $121,261.01.
Olton Rural Clinic Revenue before contractuals of $10,453, total expenses of $19,300, and a net loss of $8,847. Office visits totaled 109, total procedures performed were 261, revenue with lab amounted to $18,382.03, revenue with write-offs in the amount of $15,603.53, and receipts for the month in the amount of $7,422.37.
Dr. Rolando Rodriguez, MD, gave the Medical Staff Report. There were no Initial Appointments or Reappointments.
“A good chunk of our time was spent discussing our Mainstreet Health. We had a representative discuss what Maintstreet Health is about; it’s a new program that is designed to help clinics capture all that they can from Medicare and different insurances,” Dr. Rodriguez said. “Garvish Radiology is working on making our connection more in sync, so that we don’t have to look for the radiology reports, they will just come right to us.”
Committee Reports
Stacie Styron, DON reviewed the Infection Control, Trauma and QAPI reports for May
Sleep Lab
Cindy Klein informed the Board that advertisements were placed in the Lamb County Leader-News as well as the Lubbock Avalanche-Journal for sealed bids for the renovation of the Sleep Lab office. Currently, only one bid has been received with one more that is confirmed to be submitted. The deadline for the bids is June 27th, and bids will be opened on the 28th. Klein would like to hold a special meeting with the Board via conference call to discuss these bids. Steve Busby requested that Kenna House, the Sleep Lab Director, be present at future meetings to give updates on the Sleep Lab.
340B/MTC
Klein informed the Board that Nolan Greek was still reviewing the contract with MTC (Texas Civil Commitment Center). A percentage rate discount needed to be determined and added to the contract. Busby voiced concerns about this percentage because the Texas Civil Commitment Center is a state agency, 340B is a federal program, and MTC is a contracted for-profit company. He felt that MTC would profit from this program while also using this program for its discounted rates. Klein stated that she will look into this further before the official contract has been presented. The hospital also received physician credentialing documents; however, more is needed so it cannot be approved yet.
Administrator’s Report
Klein informed the Board that open enrollment for health insurance is currently happening and premiums for employees have increased significantly. Because of this, it has been classified as unaffordable. This means that the hospital’s lowest paid employees cannot afford this insurance. If these employees were to search and find affordable insurance on the Market Place, the hospital will be penalized over $4,000 per employee that does this.
The motion was made by Rosemond to excuse the absence of Booner Smith and Brenda Alcaraz and seconded by Jeni D. Brunson. The motion carried.
With no further business to discuss, the Board President Synatschk declared the meeting adjourned at !:30 p.m.