NRMC to receive assistance from financial consultant

Nevada Daily Mail

During their monthly meeting, Nevada Regional Medical Center's board of directors discussed the temporary addition of a financial consultant, hired by the Nevada City Council, to their leadership team during the budget process over the next month.

Hired by Nevada's council members May 19, James Snead is tasked with providing assistance to the hospital as it receives a report from SOLIC Capital Advisors, who performed an assessment of NRMC in April. He will also give suggestions concerning the new budget.

The onsite assessment by SOLIC was done because the hospital did not reach the mandatory 70 day bond cash reserve by the June 30, 2014, deadline. The report will give the hospital direction in how to improve its financial state. The report, as well as a budget work session, will be held June 9.

SOLIC was one of three options NRMC had in selecting a financial advisory group to complete the assessment of the hospital.

Chief Executive Officer Kevin Leeper said Snead was hired during the council meeting through an emergency ordinance, and he received calls from concerned individuals asking about what that emergency was. Legal counsel Bryan Breckenridge said it was called an emergency ordinance only because that would allow the council to approve it at just one council meeting instead of two, which would not give Snead long to help NRMC before their budget was due.

"I think this individual will bring valuable information to the board," board secretary Larry Bledsoe said of Snead's role.

The board also discussed the first drafts of the 2016 budget and changes they plan to make to it before they discuss it further at meetings in upcoming weeks.

Chief Quality Officer Holly Bush gave a presentation to the board on the most recent quality report the hospital received, looking at the quality of the different services NRMC provides, complaints patients brought to their attention through surveys and even the number of falls patients had while at the hospital.

"There are a lot of excellent things that are happing," Bush said, pointing out areas where NRMC had achieved or surpassed their goals. But she also said there are some points where they have not yet reached those goals.

"This year really was focused on financials," Leeper said, but added they plan to turn even more of their attention to the quality of their services in upcoming months.