6
Rural Hospital Renovation & Expansion Study 2008
Overview
Rural Hospital Renovation & Expansion Study
2008
Special Thanks
Lancaster Pollardprovides fi nancialadvisory services andaccess to capital for
hospital renovations and new construction. As one of thelargest groups of fi nance professionals dedicated to thehealth care sector, it offers unparalleled understandingof small and critical access hospitals’ fi nancial characteristics. The fi rm has experience closing every fi nancing option available to community hospitals.
Bill Wilson | (785) [email protected]
Critical Access Group isa project developmentfi rm, providing themanagement anddelivery of professional
services to upgrade, expand or replace aging healthcare facilities. CAG has formed a strategic alliance with fi rms specializing in fi nancial analysis, fund raising,construction cost estimating, health care design, health care engineering and construction management.
Rick Geiler | (402) [email protected]
McClure and Associatesis a group of service providers withdecades of distinctiveachievements in all
aspects of health care operations nationwide. Our health care experts assist in restructuring procedures,developing improved operational systems, andrecommending information systems strategies andtechnologies. They provide the knowledge and tools toensure businesses meet and surpass today’s health care industry expectations.
Jim McClure | (402) [email protected]
Graham is an employee-owned, industry-leading familyof companies offering general contracting, project management, design-build and construction services fromoffi ces in the Central and Pacifi c Northwestern UnitedStates and across Canada.
Commercial | Industrial | Infrastructure | Masonry
Scott Fowler | (402) [email protected]
Study Group Leaders
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2008 Hospital Participants
Boone County Health Center, NEBucyrus Community Hospital, OHCentral Valley Medical Center, UTGolden Valley Memorial Hospital, MO
Hayes Green Beach Memorial Hospital, MIHospital Dist. #1 of Rice County, KSMorgan Hospital and Medical Center, INThayer County Health Services, NE
In Summer 2008, Lancaster Pollard, Critical Access Group, McClure and Associates and GrahamConstruction surveyed community hospitals that had renovated or expanded in the past three years tolearn more about the renovation projects’ scopes and impacts on health care delivery in rural counties.
Overall, the community hospital respondents succeeded in completing their projects and maintainingtheir fi nancial strength. Of note, they experienced signifi cant growth in outpatient services. Almost allnoted challenges associated with undertaking a project and the need for prudent planning.
The survey results provide excellent background information for community hospitals contemplating expansion or renovation, despite the relatively small sample size. Individual hospital projects will, of course, be impacted by their own unique internal and external factors.
Thank you to all of the community hospital participants in the 2008 survey and we hope you fi nd this summary of the results helpful. Please do not hesitate to contact any of the Study Group members(contact information can be found on the last page), with any questions.
Sincerely,The 2008 Rural Hospital Renovation & Expansion Study Group
Overview
Rural Hospital Renovation & Expansion Study
2008
Special Thanks
Lancaster Pollardprovides fi nancialadvisory services andaccess to capital for
hospital renovations and new construction. As one of thelargest groups of fi nance professionals dedicated to thehealth care sector, it offers unparalleled understandingof small and critical access hospitals’ fi nancial characteristics. The fi rm has experience closing every fi nancing option available to community hospitals.
Bill Wilson | (785) [email protected]
Critical Access Group isa project developmentfi rm, providing themanagement anddelivery of professional
services to upgrade, expand or replace aging healthcare facilities. CAG has formed a strategic alliance with fi rms specializing in fi nancial analysis, fund raising,construction cost estimating, health care design, health care engineering and construction management.
Rick Geiler | (402) [email protected]
McClure and Associatesis a group of service providers withdecades of distinctiveachievements in all
aspects of health care operations nationwide. Our health care experts assist in restructuring procedures,developing improved operational systems, andrecommending information systems strategies andtechnologies. They provide the knowledge and tools toensure businesses meet and surpass today’s health care industry expectations.
Jim McClure | (402) [email protected]
Graham is an employee-owned, industry-leading familyof companies offering general contracting, project management, design-build and construction services fromoffi ces in the Central and Pacifi c Northwestern UnitedStates and across Canada.
Commercial | Industrial | Infrastructure | Masonry
Scott Fowler | (402) [email protected]
Study Group Leaders
HHHH
HH HH
HHHH
HHHHHH
HH
2008 Hospital Participants
Boone County Health Center, NEBucyrus Community Hospital, OHCentral Valley Medical Center, UTGolden Valley Memorial Hospital, MO
Hayes Green Beach Memorial Hospital, MIHospital Dist. #1 of Rice County, KSMorgan Hospital and Medical Center, INThayer County Health Services, NE
In Summer 2008, Lancaster Pollard, Critical Access Group, McClure and Associates and GrahamConstruction surveyed community hospitals that had renovated or expanded in the past three years tolearn more about the renovation projects’ scopes and impacts on health care delivery in rural counties.
Overall, the community hospital respondents succeeded in completing their projects and maintainingtheir fi nancial strength. Of note, they experienced signifi cant growth in outpatient services. Almost allnoted challenges associated with undertaking a project and the need for prudent planning.
The survey results provide excellent background information for community hospitals contemplating expansion or renovation, despite the relatively small sample size. Individual hospital projects will, of course, be impacted by their own unique internal and external factors.
Thank you to all of the community hospital participants in the 2008 survey and we hope you fi nd this summary of the results helpful. Please do not hesitate to contact any of the Study Group members(contact information can be found on the last page), with any questions.
Sincerely,The 2008 Rural Hospital Renovation & Expansion Study Group
Rural Hospital Renovation & Expansion Study
Each year, hundreds of Hill-Burton era hospitals face the challenges of maintaining 50-year old
Utilization and Financial Ratio ResponsesThe following tables offer a trend analysis of fi ve keyhospital ratios.* Representing the fi nancial health of thehospitals are Operating Margin and Days Cash on Hand,
Information was collected on 11 ratios. However, not all participating hospitals were able to provide complete data. The fi veincluded in this report represent the most complete responses.
What was the purpose of the renovation/expansion?
What effect did the project have on the following areas?
Key Learnings from the Hospitals
Rural Hospital Renovation & Expansion Study
Each year, hundreds of Hill-Burton era hospitals face the challenges of maintaining 50-year old
Utilization and Financial Ratio ResponsesThe following tables offer a trend analysis of fi ve keyhospital ratios.* Representing the fi nancial health of thehospitals are Operating Margin and Days Cash on Hand,
Information was collected on 11 ratios. However, not all participating hospitals were able to provide complete data. The fi veincluded in this report represent the most complete responses.
What was the purpose of the renovation/expansion?
What effect did the project have on the following areas?
Key Learnings from the Hospitals
Rural Hospital Renovation & Expansion Study
Each year, hundreds of Hill-Burton era hospitals face the challenges of maintaining 50-year old
Utilization and Financial Ratio ResponsesThe following tables offer a trend analysis of fi ve keyhospital ratios.* Representing the fi nancial health of thehospitals are Operating Margin and Days Cash on Hand,
Information was collected on 11 ratios. However, not all participating hospitals were able to provide complete data. The fi veincluded in this report represent the most complete responses.
What was the purpose of the renovation/expansion?
What effect did the project have on the following areas?
Key Learnings from the Hospitals
Overview
Rural Hospital Renovation & Expansion Study
2008
Special Thanks
Lancaster Pollardprovides fi nancialadvisory services andaccess to capital for
hospital renovations and new construction. As one of thelargest groups of fi nance professionals dedicated to thehealth care sector, it offers unparalleled understandingof small and critical access hospitals’ fi nancial characteristics. The fi rm has experience closing every fi nancing option available to community hospitals.
Bill Wilson | (785) [email protected]
Critical Access Group isa project developmentfi rm, providing themanagement anddelivery of professional
services to upgrade, expand or replace aging healthcare facilities. CAG has formed a strategic alliance with fi rms specializing in fi nancial analysis, fund raising,construction cost estimating, health care design, health care engineering and construction management.
Rick Geiler | (402) [email protected]
McClure and Associatesis a group of service providers withdecades of distinctiveachievements in all
aspects of health care operations nationwide. Our health care experts assist in restructuring procedures,developing improved operational systems, andrecommending information systems strategies andtechnologies. They provide the knowledge and tools toensure businesses meet and surpass today’s health care industry expectations.
Jim McClure | (402) [email protected]
Graham is an employee-owned, industry-leading familyof companies offering general contracting, project management, design-build and construction services fromoffi ces in the Central and Pacifi c Northwestern UnitedStates and across Canada.
Commercial | Industrial | Infrastructure | Masonry
Scott Fowler | (402) [email protected]
Study Group Leaders
HHHH
HH HH
HHHH
HHHHHH
HH
2008 Hospital Participants
Boone County Health Center, NEBucyrus Community Hospital, OHCentral Valley Medical Center, UTGolden Valley Memorial Hospital, MO
Hayes Green Beach Memorial Hospital, MIHospital Dist. #1 of Rice County, KSMorgan Hospital and Medical Center, INThayer County Health Services, NE
In Summer 2008, Lancaster Pollard, Critical Access Group, McClure and Associates and GrahamConstruction surveyed community hospitals that had renovated or expanded in the past three years tolearn more about the renovation projects’ scopes and impacts on health care delivery in rural counties.
Overall, the community hospital respondents succeeded in completing their projects and maintainingtheir fi nancial strength. Of note, they experienced signifi cant growth in outpatient services. Almost allnoted challenges associated with undertaking a project and the need for prudent planning.
The survey results provide excellent background information for community hospitals contemplating expansion or renovation, despite the relatively small sample size. Individual hospital projects will, of course, be impacted by their own unique internal and external factors.
Thank you to all of the community hospital participants in the 2008 survey and we hope you fi nd this summary of the results helpful. Please do not hesitate to contact any of the Study Group members(contact information can be found on the last page), with any questions.
Sincerely,The 2008 Rural Hospital Renovation & Expansion Study Group
