W.J. Mangold Memorial Hospital. (courtesy photo)
LOCKNEY – Lockney’s W.J. Mangold Memorial Hospital is fighting. They’re fighting insurance companies to get them to pay, much like patients have to, despite those companies reporting record profits. They’re also fighting against the idea that hospitals have become cash cows. “The perception is that hospitals operate with lots of money,” Chief Financial Officer Butch Forrest said during last week’s hospital board meeting. That doesn’t mean Mangold is in financial straits, but it is not a champagne and caviar life for the community hospital.
During the meeting the board heard that the hospital is operating at a profit, but margins are still close. The hospital currently has $2.4 million cash on hand and assets and facilities worth $5.3 million. Forrest and CEO Vince DiFranco discussed the benefit the hospital has seen in working with RevMax Pro, a company that assists hospitals in payments from healthcare plans, specifically MediCare Advantage plans that have held off on full payments to the hospital. According to DiFranco, those plans have underpaid the hospital more than $300,000 on recent billing. “That money would make a big difference,” DiFranco told the board. He also discussed the idea of holding workshops with MediCare eligible patients on what to watch for in dealing with MediCare Advantage plans.
The hospital board also talked about a recent letter sent to the Caprock Hospital District over indigent care, and that they have not had a response but still desire a meeting. “We’re very open to having a discussion,” board president Monty Teeter said, “We’re open to any ideas.” DiFranco then told the board about the next steps following clarification from the county on public safety concerns. The hospital will soon be installing a “panic button” system that will call different locations in the building and 911 when a specific button is hit.
The final bit of public business was from DiFranco bringing a presentation from Community Infusion Solutions, an IV Therapy service looking to partner with the hospital. If opened in the hospital, CIS would be able to service patients that need IVIG, MS or Antibiotic infusions instead of those patients needing to travel to Lubbock or other regional locations for treatment. If the partnership goes as planned, Mangold could see a profit of nearly $250,000 in a year. An area could easily be built within existing rooms, and furniture could be purchased quickly enough for the project to be up and running by October. “I think this is the next big idea to generate revenue,” DiFranco said. The proposal passed with a unanimous vote.
Mangold’s next monthly board meeting will be held on August 31 at noon in the hospital conference room. Agendas for the meetings can be found at MangoldMemorial.org.
