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Teton Valley Health Care reports improved operating results but warns cash is tight
Summary
Teton Valley Health Care CEO told commissioners the hospital is improving operations — swing-bed days, surgeries and therapy use are up — and has a year-to-date net income, but accounts receivable and limited cash-on-hand remain a concern.
Teton Valley Health Care CEO Troy Christensen gave commissioners a fiscal update on May 27 that showed operational gains but persistent cash-flow stress.
"For the year, we have $18,800,000 in net patient revenue... Our expenses are coming in just about $400,000 under our budget," Christensen said, summarizing the hospital’s second-quarter results. He told the board the hospital has recorded improved volumes: inpatient and outpatient surgeries were up roughly 48% over the prior year, EGDs and colonoscopies up 67%, and swing-bed days up about 38.7%.
Christensen said operational improvements, a new Saturday walk-in clinic and a recent acquisition of Struble Physical Therapy are driving growth. "We have seen a decline in our emergency room visits, but I believe that's because we started up a Saturday clinic..." he said. He also said new supply contracts and a shift in employee health-plan structure have contributed to expense reductions; a new group-purchasing arrangement could save an estimated 10–15% annually on supplies.
Despite operational gains, Christensen cautioned about cash availability. The hospital’s audited fiscal-year 2024 financials showed a net loss and shrinking cash reserves: "At the '22, we had... $8,300,000 in cash reserves. That dropped in 2023 to $4,000,000... we sit at about 35 days cash on hand at March," he said, adding that total accounts receivable had climbed to about $6.5 million.
Christensen asked the board to confirm a single commissioner contact on a separate but related issue: county conveyance of the hospital property. The hospital has researched a statutory option that would allow the county to convey property to Teton Valley Health Care while preserving the nonprofit hospital structure, which the CEO said could improve the hospital’s ability to borrow or secure grants. "We have to address our space challenges, if we intend to keep growing with our community," Christensen said.
Ending: The CEO said he will work with the county on follow-up questions about a conveyance option and cautioned the board that collections and cash remain a management priority despite operational gains.
