Trustees Hear Cost-Debt Analysis

The Kearney County Health Services Board of Trustees meeting room was full for the January 30 meeting. In addition to the board, KCHS staff, and liaisons from the Kearney County Medical Fund and Kearney County Board of Supervisors, Randy Hoffman from Seim Johnson and representatives from First Bank & Trust and Minden Exchange Bank & Trust attended.
Following a quick election of officers resulting in keeping them the same as the previous year, Hoffman gave a presentation on cost-debt analysis for KCHS. The presentation focused on Critical Access Reimbursement, a Medicare cost report, and debt service coverage to give the board a clearer idea of its ability to fund a clinic renovation.
Hoffman provided a breakdown of Medicare reimbursed services at Critical Access Hospitals and how payor mixes factor into the bottom dollar. He told the board KCHS has optimized its Medicare cost report in large part by closing Hinterlong and Countryside Living. Comparing historical debt from the last three years to 2019 based on a six month projection revealed the facility is far better suited to finance a large project like the renovation.

see February 6 Courier for full story

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