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Trustees hear Homestead losses and SSM submits plan for rural health transformation funds
Summary
Board members were told Homestead experienced operating losses in July and August and that the hospital system submitted a plan to the Oklahoma Health Authority for allocation from the federal Rural Health Transformation Fund. Trustees were also told nursing-home assets will move to hospital financials in the FY2025 audit.
Trustees were briefed on the Homestead senior-care facility's recent operating losses and on system-level efforts to secure federal rural health transformation funding.
Staff reported Homestead recorded a loss of about $17,000 in August and a loss of about $7,000 in July. Leadership said Homestead has cash on hand to sustain operations in the near term but plans to consult with Tanya (staff member) to identify steps to increase occupancy and revenue. The presenter said…
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