2019 was a tough year financially for Newman Regional Health, however, Newman CEO Bob Wright is looking forward to positive financial results come 2020.
Last week the Newman Board of Trustees approved the operating budget for 2020 which did include a projected loss, however, it is significantly lower than the loss projected for 2019. The 2020 projected loss is just over $290,000 as 2019 is set to close with a $2.6 million loss.
Wright, a recent guest of KVOE’s Talk of Emporia, says potential Medicaid expansion through the Kansas legislature could play a pivotal role in the positive financial swing. According to Wright, roughly 18 percent of individuals within Lyon County are currently uninsured, which is the highest percentage in all of east-central Kansas.
If Medicaid expansion were to gain approval next year it would mean roughly 1,500 people would then have access to coverage. Wright anticipates this could mean an additional $1.7 million in revenues coming into the hospital in 2020.
Along with the financial outlook, Wright also looked forward to new projects coming to the hospital in the new year. He says their new partnership with Ortho Kansas will be getting underway officially come early January.
In addition, the hospital is planning to begin construction and renovation work on its new physical therapy center in late March and early April. For more information on Newman Regional Health visit NewmanRH.org.
