Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Hospital Governance topic
No spam. Unsubscribe anytime.
Share Medical Center trustees approve consent agenda, accept financial reports and renew $1 million line of credit
Summary
At a July meeting, the Share Medical Center Board of Trustees approved routine consent items, accepted CEO and CFO reports highlighting staffing and financial results, reappointed courtesy medical staff, approved a set of clinical policies and renewed a $1,000,000 line of credit with Community Bank.
The Share Medical Center Board of Trustees on 2025-07-21 approved the consent agenda and several routine actions, accepted the CEO and CFO written reports for June and July, reappointed courtesy medical staff, approved a bundle of patient-care policies, and renewed a $1,000,000 line of credit with Community Bank.
The approvals came during a roughly 33-minute meeting in which trustees also heard updates on recruiting, revenue-cycle work, a recent intercost settlement that materially affected May results, and several staffing additions in the emergency and surgical departments.
"We finished the month with $600,000 cash," Kelly, chief financial officer, told trustees when presenting May results; she said net operating income for May was positive and that the organization received an intercost control settlement of $583,866 that materially improved that month's financials. Kelly reported that June closed with about $545,000 cash and that accounts receivable rose to approximately $4.1 million.
CEO Candace reported ongoing recruiting efforts for clinical staff and said a new emergency department nurse practitioner, Ryan Sand, had joined the staff. "He's doing a fantastic job," Candace said, and the board heard that Brady Reed started full time as the CRNA in surgery. Trustees were also told that CodeQuik (revenue-cycle vendor) began full-service work in July to clear a backlog in claims processing.
Trustees voted to accept the CEO written report for June and July, and to accept the CFO's financial statements and explanations. The CFO highlighted that year-to-date net income after nonoperating items was $924,005.17 and noted a pending roof invoice of about $530,000 the hospital expects to pay in July or early August. The CFO also said expected shop payments of approximately $300,000 should arrive in July.
On medical staff business, trustees approved the reappointment of courtesy staff in orthopedic surgery, with a motion by Dr. Burke and a second by Dr. Simon. The board also approved routine policy revisions and procedures grouped as items 7b through 7k, including a substantially revised financial assistance (charity care) policy that the presenter said was modeled on a larger health system's policy.
Under new business trustees considered renewing a line of credit. After initial discussion about the renewal terms, a motion by Mr. Bowman, seconded by Dr. Simon, carried to renew the line of credit with Community Bank for $1,000,000. The roll call vote recorded all trustees present as voting yes.
Trustees heard additional operational updates: continued work to finalize a change-of-ownership process, the location's enrollment in a planned 340B referral program to capture discounts for specialty medications prescribed locally, and ongoing audit work with Corvista for 2024 and plans for a potential on-site audit for 2025.
The meeting concluded with trustees noting progress on financial reporting, recruitment, and revenue-cycle remediation. With no further new business, the board adjourned.
Ending: Trustees directed staff to continue implementing revenue-cycle improvements, complete the change-of-ownership tasks, and work with auditors as scheduled; no additional formal instructions beyond the votes recorded were made public in the meeting transcript.
