NRMC Hospital Board of Directors

Nevada Regional Medical Center BOARD OF DIRECTORS May 28, 2024 Members Present: Cindy Thompson, Bob Beaver, Mandy Barnes, Seth Barrett, Mike Brown (arrived 5:22pm), Aimee Meyer, Geoff Stewart, Jason Anglin, Dr. Jennifer Conley (arrived 5:35pm) Members Absent: Dr. Moore, Jayne Novak Others Present (Internal): Holly Bush, COO; Jessica Collier, HRAO; Christi Keating, CNO; Jason McCormick, CRO Others Present (External): Tammy Helm(Nevada Daily Mail), Marvin Knoche, Sim Miller, Leland Splitter, Lillie Pitts-Wingate. Topic Discussion Action & Follow-Up Call to Order Mrs. Thompson called the meeting to order at 5:18 p.m. and noted that a quorum was present. No conflicts of interest were disclosed. Celebration of Good Lots of good shining stars, very sincere. Things Mr. McCormick shared positive comments from a restaurant employee who recognized him. Approval of Minutes Reports and minutes of the following meetings were provided in the packet for review: Approved as written upon a • Board of Directors – April 30, 2024 motion made by Seth Barrett • Board of Directors Special Session – May 9, 2024 and second by Mandy Barnes. Public Comment Mr. Knoche inquired about cash, Rural Emergency Hospital designation, 340B program. Mr. Anglin noted that Informational. from those the Rural Emergency Hospital designation is not one that NRMC wants to pursue at this time. It would registered eliminate inpatient services completely. Board • None. Informational. Education Administrative CEO Report – Mr. Anglin provided the following highlights from the report: Informational. Reports • Forbearance – will discuss more later. • FEMA claim status – in closeout process. The second project is in the review process. • Budget – Mr. McCormick is working on this with department leaders. Will plan to present at June meeting. • Physical plant updates. • MHA operational update. • CFO candidates onsite this week. • Services overview. Infection Control Mrs. Bush shared that this is a CIHQ requirement. Needed to update due to change in role and for survey Approval was made by Seth Officer preparations. This position is now held by Donald Boatwright, MSN, RN. Transitioned from clinical role. Barrett and second by Aimee Meyer. All voted in favor. Financials Mr. Anglin gave a review of financials: The April financials were • Net income: $64k. approved upon a motion • Patient volumes in most areas were strong. Swingbed program is going well. made by Seth Barrett and • Total patient revenues were up. Surgeries: 88. Outpatient testing volumes were up as well. second by Mandy Barnes. • Older Cerner accounts are still being turned over to an outside agency. Did have larger deposit come through today that is on some of those older claims. • Salaries running below budget, but contract labor is still high. Page 1 of 3  Nevada Regional Medical Center BOARD OF DIRECTORS May 28, 2024 • Professional fees – higher due to those specialty physicians. • Supplies – higher related to 340B & higher drug supply costs. Mrs. Barnes inquired about the 340B payment. Mr. Anglin noted that most hospitals operate on accrual accounting. Remains on balance sheet as an accounts receivable until received. Approval Items 1) Cottey Health Services: $40,000 (revenue). We provide health services to their students during the The approval items were school year. approved upon a motion 2) Liability Insurance: $546,715. FY23 was larger due to covering the malpractice for our ED physicians. made by Bob Beaver and Will receive dividend payment of $224,197 upon renewal. second by Aimee Meyer. 3) Clinical Equipment Repair Service: $43,500. Biomed repair services. 4) Four States Anesthesia Agreement: $250/hour; based on utilization of their services. Have 2 full-time CRNA’s; this will provide additional coverage for vacations, etc. Working to recruit a 3rd CRNA. Forbearance Mr. Doyle provided an update. Mr. Doyle joined via phone Agreement - This is a separate agreement than what was previously signed. BAM will go through UMB bank to provide at 6 pm; departed 6:13 pm. the loan. Will take City out of the equation. Minor adjustments made; only major change, more leniency of the days cash on hand requirements to meet certain benchmarks. - Mrs. Thompson asked about previously signed agreements? Mr. Doyle noted that they will all become null/void. - Mr. McCormick – BAM originally approached all entities to put forth certain requirements to have their part in it. The side agreement is now tabled. This is being worked out directly between the bond trustee, BAM and hospital board of directors. This agreement will have to renew every 90 days; executed under the original loan agreement. - Mrs. Barnes – inquired about BAM covering part of the Stroudwater expense. Mr. Doyle clarified it is still in there. Does NRMC have any obligation to pay the City’s legal fees? Mr. Doyle stated no. - Mr. Doyle noted overall this is positive for NRMC. He noted that Mrs. Rebecca Sullivan, BAM, gave very much praise to Mr. Anglin for his tenacity to stick with this for so long. A resolution was made by Bob Beaver and second by Mike Brown to approve the updated forbearance agreement submitted by BAM and UMB Bank. Authorization for Mrs. Thompson, Board Chair, to execute agreements. All voted in favor. Board Committee On hold until further notice. Reports Board Governance Mr. McCormick noted that the next governance policy review session will take place this Friday morning. Will cover the 2nd half of the policies. New Business Mr. McCormick noted some great progress has occurred despite delays with the forbearance. Reviewed cash inflows over the last couple months & discussed market wage adjustments. Move to Executive The Board Chairman requests an Executive Session for reasons in accordance with RSMo (1994) Section Bob Beaver Yea Session 610.021 Subparagraphs (1), (2), (3), and (13) made by Seth Barrett and second by Aimee Meyer at 6:21 pm. Mike Brown Yea Results of a Roll Call vote are as follows: Mandy Barnes Yea Seth Barrett Yea Aimee Meyer Yea Page 2 of 3  Nevada Regional Medical Center BOARD OF DIRECTORS May 28, 2024 Candice Moore Absent Jayne Novak Absent Geoff Stewart Yea Cindy Thompson Yea Adjournment The meeting was adjourned at 7:45 p.m. upon a motion made by Seth Barrett and second by Mandy Barnes. All voted in favor. Respectfully submitted, Jennifer Eaton, EA Page 3 of 3