At the regular monthly board meeting of Estes Park Health, board members heard a report on the financial health of the hospital.
Interim Chief Financial Officer Dave Timpe said EPH ha 167 days of cash on hand, or enough money for the health system to operate if there were no income. That’s about five-and-a-half months of money available which puts EPH in a good position among critical access care hospitals of similar size and in similar settings. The average amount of cash on hand for such facilities is about 66 days.
Still, board members encourage the finance department to help inform the Board of Trustees on financial matters in a timely fashion. There is still no official audit from 2021 primarily due to Finance Department staff shortages and turnover. Audit is on track to be completed by October 1. Also, the current financial reports for EPH only go through May.
“As a board member, I think it is unacceptable not to have a 2021 audit by now,” emphasized Drew Webb. “I understand you are doing everything you can and that staffing has been an issue. We have implemented a strategic plan to change some services and I believe financially we will get better quickly.”
Board member Steve Alper also chimed in and noted that the Finance Committee needs to have data as soon as possible.
“We need to get reports that are required to make timely and intelligent decision about the organization,” Alper stressed. “We need to make sure targets are met.”
Timpe reported that the cost of contract labor continues to drive up costs, doubling from May of 2021 to May of 2022.
COVID update
In Larimer County, the community rate of COVID is low, but the transmission rate is high, meaning people who are around infected patients are still highly susceptible to catching it.
Chief of Staff Dr. Robyn Zehr reported that the EPH clinic now only offers Moderna vaccines. Everyone from six months of age to the elderly are eligible for vaccinations.
“We are doing a great job of getting our kiddos vaccinated,” Zehr said, “but we need to continue to push forward. I’m happy people want it.”
Zehr said EPH holds a childhood vaccination clinic each Friday.
Board member Webb inquired of Zehr if EPH thinks it’s important for children to get the COVID vaccine.
“The reality is that if you look at the data, the effectiveness in preventing illness if 47% to 65%,” she noted. “However, the vaccine prevents a multi-inflammatory response that can cause more serious disease.”
Zehr also stated the COVID vaccines are still free.
“COVID is getting better,” she added, “but it’s still here.”
Other EPH issues
Zehr reported that the staff has been educated on monkey pox and what signs and symptoms to look for. However, EPH will not provide the vaccine in Estes Park.
“We don’t want to take vaccines from places that need is more,” she commented.
Zehr also reported that the Emergency Department and Urgent Care have experienced high summer volumes, with a significant jump in Urgent Care volumes compared to last summer.
Strategic Actions
Earlier this month, the Board voted to transfer baby deliveries and inpatient pediatric care to partners in other towns. Those changes will take place by Dec. 31.
After nine meetings explaining the service line changes to the community, Board Chair David Batey said he still feels the need to dispel rumors circulating around town.
“There are rumors we are going to stop offering home health/hospice/home care,” Batey said. “That is not true. We are trying to find another organization to partner with, but we are not going to stop those services.”
CEO Vern Carda reported that 15 chemotherapy patients have returned to EPH for their treatments.
“We are off and running with that program,” he said.
Batey said the board with be having a hybrid in-person/virtual meeting on Thursday, Sept. 1, at 5:30 p.m. to discuss questions from some concerned citizens about recent changes. For more information, log on to the EPH website at eph.org.
