NRMC Hospital Board of Directors

Nevada Regional Medical Center BOARD OF DIRECTORS June 25, 2024 Members Present: Cindy Thompson, Bob Beaver, Mandy Barnes (arrived 5:39pm), Mike Brown, Aimee Meyer, Dr. Candice Moore (arrived 5:32pm), Jason Anglin Members Absent: Seth Barrett, Jayne Novak, Geoff Stewart, Dr. Conley Others Present (Internal): Holly Bush, COO; Jessica Collier, HRAO; Christi Keating, CNO; Jason McCormick, CRO Others Present (External): Michael Pommier (Nevada Daily Mail), Marvin Knoche, Leland Splitter Topic Discussion Action & Follow-Up Call to Order Mrs. Thompson called the meeting to order at 5:26 p.m. and noted that a quorum was present. No conflicts of interest were disclosed. Celebration of Good Lots of Shining Stars. Things Mrs. Meyer had good experience with son in ED recently. 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 – May 28, 2024 motion made by Mike Brown • Board of Directors Work Session – May 31, 2024 and second by Dr. Moore. Public Comment Mr. Knoche – what is the month end closing schedule? Outstanding AP over 90 days? Income Informational. from those statement/balance with actual figures to see a trend. How many days outstanding for billing? registered Board • Reviewed recent MHA Community Workforce Report. Highlights current vacancy and turnover rates for Informational. Education our hospital region compared to the State. CEO Report CEO Report – Mr. Anglin provided the following highlights from the report: Informational. • Received forbearance funds of $800k. • FEMA: first project was funded 6/12 for $1.6M. The 2nd submission is now in obligated status. Will probably take approx. two months to receive that round of funding. It is $1.2M. We can now submit expenses related to the filing process. • 340B funds of $754k also arrived. Funds have been used to pay down older accounts payable, self-funded insurance, vendor payments. Just over $1M. Mr. Beaver inquired about payments to Freeman & Cerner. Mr. Anglin noted that no old balances have been paid. Cerner: $750k. Negotiating legal assistance. • Cash: $1.9M (after funding payroll this week) • Bond days: 11 (after funding payroll this week) • CFO candidate has accepted the position. Will be here mid-July. • Participated in 3M listening session recently with key stakeholders. • Physician candidates – several meetings/discussions recently. • Plant updates – waiting on several parts for items to be replaced. • Have surveyors in-house this week. • Target closing: by 15th business day of following month. Hope to shorten once CFO arrives. Mr. McCormick discussed some progress related to the revenue cycle. Accounts are being worked and addressed. Additional staff have been hired to work accounts. Within 60 days how many claims processed? 77%; 17% paid with $0 (denial). 40% of Medicaid are denied. Will be removing the split billing component for clinic visits. Page 1 of 3  Nevada Regional Medical Center BOARD OF DIRECTORS June 25, 2024 Quality Report Mrs. Bush shared the following: Approved upon a motion - Sepsis/prevention. New EHR system does not have the early warning system like the older one. We made by Mike Brown and are currently rebuilding those alarms and educating staff for abnormal vital signs. second by Dr. Moore. - Pain management. Also currently a manual process. Pt. Satisfaction scores review. Will be rolling out a patient access committee with Mr. McCormick soon. Compliance Self-reporting guidelines received recently from MO Dept Health & Sr Services Approved upon a motion Summary Autofax system – continue to monitor & update. made by Mike Brown and EMTALA – no findings resulted from this. second by Dr. Moore. Audits – recovery audits. Seeing small activity recently. Preparing for CMS survey with deeming authority, CIHQ, in early 2025. Policy #102: Mrs. Bush summarized the following: Approved upon a motion Treatment of Demonstrate compliance of this policy. Meeting federal reporting guidelines. Still working on data extraction made by Mike Brown and Patients to get quality data to share/report. second by Dr. Moore. Financials Mr. Anglin gave a review of financials: The May financials were • Bottom line was positive. Net income: $132k approved upon a motion • Volumes: Rehab was highest so far this year as well as Lab (outpatient mostly). Surgeries: 79. made by Aimee Meyer and • Total patient revenues: $12M second by Bob Beaver. • Total deductions: AR did increase over the month and older accounts. As they age, they are reserved at a much higher percentage. • Benefits: high medical claims for the month. • Contract labor was down $11k. • Large payment & interest on some old claims. Would have been a loss of $683k. • Bond days: 4.5. Anticipate being at 11 days at end of June. • Need to continue to grow volumes. Approval Items 1) Vital Records Control: $42,660. Renewal for storage of old records. Pediatric records must be kept 21 The approval item was years. This is a 3 year term. approved upon a motion made by Bob Beaver and second by Mike Brown. Board Committee On hold until further notice. Reports Board Governance Review & approval of policies #107-112. Policies #107-112 were Policy #401 – Global Ends Statement. Tells the organization what to accomplish/create. Defines a benefit, for approved upon a motion whom, & at what cost. Defines the service lines of the organization. made by Mandy Barnes and There are 12 more policies for the Board to define roles, committees, etc. second by Aimee Meyer. New Business None. 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), (3), and (13) made by Mike Brown and second by Mandy Barnes at 7:18 pm. Mike Brown Yea Results of a Roll Call vote are as follows: Mandy Barnes Yea Seth Barrett Absent Aimee Meyer Yea Page 2 of 3  Nevada Regional Medical Center BOARD OF DIRECTORS June 25, 2024 Candice Moore Yea Jayne Novak Absent Geoff Stewart Absent Cindy Thompson Yea Adjournment The meeting was adjourned at 9:21 p.m. upon a motion made by Bob Beaver and second by Mandy Barnes. All voted in favor. Respectfully submitted, Jennifer Eaton, EA Page 3 of 3