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Hospital funds “safe”

HUERFANO- On Tuesday evening’s Spanish Peaks Regional Health Center’s board meeting, Chief Financial Officer Rick Corradino told board members that the hospital’s financial investments are considered safe.  “We have sizable investments in two banks,” Corradino said, and he has talked with both of them about the recent financial turmoil rocking the nation’s financial system.  He was told that public entity funds, such as the hospital’s, are secured by a third party- in this case, a bank in Tennessee.  “The monies are safe; no problem,” he concluded.

    The same could not be said for money coming into the hospital.  Interest on accounts has dropped dramatically; from 4.5 percent last year to 1.5 percent currently.  In-patient and out-patient censuses are down; at one point for four days last month, there were zero patients staying in the hospital.  Last month the hospital made $18,136.  In their projections, the hospital expected to make $57,565.  The year-to-date losses have been $203,427, when it was projected they would be making over $430,461.

    On the brighter side, the Veteran’s Home, which currently has a census of 99 residents, has made $16,316 for the year-to-date.

    Hospital Administrator Gary Dickey reported that a new physician is looking to join the staff, and will be looking over the facility this weekend.  Dickey also reported the new hospital Administrator, Todd Oberheu, will be assuming his duties on Monday, Nov. 10, and Dickey will return to only managing the Veteran’s Home.  Dickey seemed very pleased at the prospect.