Particular to the Solar
The Kern Valley Healthcare District (KVHD) Board of Administrators took motion at its assembly on November 6 to start the method of refinancing its current debt which can provide substantial financial savings to the District.
KVHD at present makes funds on roughly $7 million in collected debt which is made up of income bonds from 2003 and a mortgage from the Workplace of Statewide Well being Planning and Growth. The rate of interest paid on this debt is from 5 to five.25 p.c, but the present market charges on income bonds are about three p.c.
To reap the benefits of these decrease charges, KVHD plans to consolidate and refinance its debt by issuing new income bonds by June 2020. After paying refinancing prices, its web financial savings may very well be within the vary of $500,00zero to $600,00zero relying on whether or not a six- or eight-year compensation interval is chosen.
The KVHD Board voted to interact the providers of a monetary advisor to research the accessible bond choices, and a authorized specialist to problem and ship the income bonds. A vote to authorize the issuance of the brand new bonds is predicted to happen on the Board assembly on December four.
In different issues, CFO Chet Beedle reported that the month of September generated a web revenue of $75,643 for the District which lowered its first-quarter web loss to $13,812. Acute inpatient mattress use elevated considerably; it was the primary time in two years that the Acute Companies division carried out higher than was budgeted. The Well being Clinic is doing very properly and additional income will increase are anticipated quickly when the cellular clinic turns into operational.
The Expert Nursing Facility (SNF) continues to expertise staffing challenges which can be briefly being overcome by utilizing costly nurse registries from out of the realm. KVHD hopes to have its software to start out its personal Licensed Nursing Assistant coaching program authorised by the tip of the yr so it may possibly prepare and retain extra dependable native employees. The manager employees has been attending SNF employees conferences to get employees suggestions on enhancements wanted throughout the facility.
CEO Tim McGlew reported that the state legislature is contemplating the SB758 invoice which might considerably scale back the price of seismic retrofitting for hospitals. Hospitals can be required to rework solely the three areas of biggest service want within the occasion of a catastrophe: emergency rooms, working rooms, and post-operative restoration areas. KVHD has already ready seismic rework designs for these areas of Kern Valley Hospital, and is awaiting phrase on whether or not its grant software for $19.three million in seismic rework funds can be awarded by FEMA.
Kern Valley Hospital Basis President Judy Hyatt reported to the Board on its many funding achievements which have helped present gear, providers, and well being training for KVHD and the group. She highlighted the profitable Coronary heart Stroll and River Rhythms annual fundraisers, and its latest position within the provision of diabetic cooking courses, a brand new 15-passenger bus, and furnishings for the SNF. An endowment fund for the aim of sustainable funding will begin quickly. The Basis is in search of artistic methods to assist with physician recruitment, employees coaching, and cellular clinic wants.
The subsequent KVHD Board of Administrators assembly can be held on Wednesday, December four at 6:00 p.m. within the Hospital Administrative Convention Room.