NRMC Hospital Board of Directors

Nevada Regional Medical Center BOARD OF DIRECTORS July 30, 2024 Members Present: Cindy Thompson, Seth Barrett, Bob Beaver, Mandy Barnes (arrived 5:27pm), Mike Brown, Aimee Meyer, Dr. Candice Moore (arrived 5:31pm), Jayne Novak, Geoff Stewart, Jason Anglin Members Absent: Dr. Conley Others Present (Internal): Holly Bush, COO; Jeff Wesselman, CFO; Jason McCormick, CRO Others Present (External): Marvin Knoche, Leland Splitter Topic Discussion Action & Follow-Up Call to Order Mrs. Thompson called the meeting to order at 5:23 p.m. and noted that a quorum was present. No conflicts of interest were disclosed. Celebration of Good Lots of Shining Stars. Things FB post about a biller/pt. advocate helping someone understand their statements/bills. 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 – June 25, 2024 motion made by Seth Barrett and second by Geoff Stewart. Public Comment Mr. Knoche – admissions are down; profits up. Non-operating revenue discrepancy. Informational. from those Are daily metrics reported? Daily cash balance? Billing amounts for prior day? How current are accounts registered payable? NRMC/LTC merger? Amounts owed to City of Nevada? Board Mr. McCormick gave an update on the turnaround plan: Informational. Governance • FEMA funding • Removing patient barriers/access to care • Wage adjustments & recruitment of additional staff • Changes in the Emergency Department physician practice • Business office process improvements • Planning a follow-up soon with Stroudwater for the SFOA progress • Policy #103: Treatment of Staff. Report from Mrs. Collier. Human Resources recently completed 2 assessments: HR practices & recruitment. Would like to go over results with Workforce Cmte in next 90 days. • Financial Conditions & Activities: Administration is in compliance with policy. Progressing through turnaround plan, increased cash collections, reduce accounts payable, etc. Going in right direction. Will begin renegotiating contracts with payors. • Ends Policy: purpose is for board to define what the organization shall become. Identifies all services we currently provide, benefit of those, etc. Board members would like to have time to review and discuss again in couple months. CEO Report CEO Report – Mrs. Bush provided the following highlights from the report: Informational. • Welcome to Jeff Wesselman, CFO. • Dr. Seals first day back today. We are thrilled to have him back! • Physician recruitment – Dr. Wyant has signed; will begin in October. Several other contacts with physicians recently. Dr. Heiner has signed her contract. Will start in August 2025. • Had Patient Centered Medical Home surveys recently. As well as regular surveys for NowCare & Rich Hill Clinics to get them under the Compliance Team umbrella. Next step will be Patient Centered Health Page 1 of 3  Nevada Regional Medical Center BOARD OF DIRECTORS July 30, 2024 Home program, focusing on MO Medicaid patients. • Held Community Blood Drive last week. Updated Org Chart Adding Jeff Wesselman, CFO. Decided to move Information Technology under the CFO umbrella and reporting Approved upon a motion structure. made by Seth Barrett and Question if Chief Restructuring Officer needed to be added. Not necessarily. second by Jayne Novak. Updated Banking Banking resolution was sent via email for vote to add Jeff Wesselman, CFO in Jason Anglin’s absence. Email Approved upon a motion Resolution vote was approved; ratified upon a motion made by Aimee Meyer and second by Geoff Stewart. All voted in made by Aimee Meyer and favor. second by Geoff Stewart. Compliance Mrs. Bush reviewed the following summary: The Compliance summary Summary Surveys & plans of correction are being completed currently. was approved upon a motion HIPAA & Security assessments are ongoing. made by Jayne Novak and EMTALA monitoring with OB dept each month. second by Aimee Meyer. Preparing for CIHQ survey arrival within the next 7 months. Financials Mr. Wesselman gave a review of financials: The June financials were • Net income: $1.7M. YTD: loss $621k. Compared to prior fiscal year: $649k loss. approved upon a motion • Income statement: $1.2M (other operating revenue; line 32). FEMA project #2 that is in obligated status. made by Jayne Novak and • Cash flows are closely monitored daily. second by Mandy Barnes. • Accounts payable down to $3M. Does include Cerner & Freeman balances. • Bond days cash: 10.5 • Budget: still working to finalize and present. Will most likely present a high level soon and then an amended version over the next month or so. Approval Items 1) C-Arm BV Pulsara w/tower: $20,000. This machine was deeply discounted due to hospital closure. Approval items #1 & 2 were Will allow for additional OR rooms to be prepped/ready for quicker case turnaround. approved upon a motion 2) Ultrasound machine w/probes: $40,000. This machine was deeply discounted due to hospital closure. made by Dr. Moore and Current machine is quite old & will be unable to repair if it goes down. second by Mike Brown. 3) MagView Mammography Software: $24,225. This software upgrade is needed to meet FDA/MSQA Approval item #3 was guidelines & reporting for accreditation purposes. approved upon a motion 4) Video Monitoring System BHU: up to $40,000. Mrs. Bush feels strongly this upgrade needs to happen. made by Dr. Moore and Not prepared to submit $$ amount at this time. Tabled. second by Aimee Meyer. Board Committee None. Reports Board Governance Mr. McCormick will begin coordinating dates for another governance work session to review more policies. Informational. 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 Jayne Novak at 6:51 pm. Mike Brown Yea Results of a Roll Call vote are as follows: Mandy Barnes Yea Seth Barrett Yea Aimee Meyer Yea Candice Moore Yea Page 2 of 3  Nevada Regional Medical Center BOARD OF DIRECTORS July 30, 2024 Jayne Novak Yea Geoff Stewart Yea Cindy Thompson Yea Adjournment The meeting was adjourned at 8:05 p.m. upon a motion made by Mandy Barnes and second by Geoff Stewart. All voted in favor. Respectfully submitted, Jennifer Eaton, EA Page 3 of 3