Newman Regional Health’s nearly-daylong strategic planning retreat Monday had several key takeaways.
Immediately, the list includes a continued investment into safety and service, enhancing quality of care and access to care regionwide and special attention to the area Latino and elderly populations as well as those needing behavioral healthcare. This also factors into a stated three-year goal plan that includes growing the market as evidenced by a $10 million net revenue increase, expanding the service area, increasing the number of days cash on hand to 65 and reinvesting $4 million into annual capital purchases.
Board of Trustees Chair Luke Arndt saw other key points following the session.
Chief Executive Officer Cathy Pimple also mentioned ongoing conversations about a possible “clinical strategic relationship” with another hospital, indicating this process is still far from the finish line.
Pimple says it was a good, uplifting day.
The retreat comes after Newman Regional Health has drafted a 10-year aspirational view of its goals and objectives, performed a strengths-weaknesses-opportunities-threats or SWOT analysis, started a market analysis and master facility planning process and held meetings with employees and community stakeholders — all since November.
There are several other factors in play for the hospital as its strategic planning process continues. Newman Regional Health has started mediated conversations with Stormont-Vail Health about a potential $30 million surgical facility in Emporia and Newman Regional’s proposed zoning code text changes to both protect its financial interests and give more local oversight to outside projects such as this — and the board is still deeply concerned about the impact of duplicative services on its bottom line. It also comes as Newman Regional Health is determining how to fill Cora Miller Hall once the Emporia State nursing department moves from the hospital into its new Nursing + Student Wellness Center on campus next year.
Newman Regional Health also hopes to build its regional market share at a time when hospitals in rural settings are struggling across the country. On the market share side, Newman Regional has the most total service patient discharge market share for Lyon County, typically at 49-54 percent since 2019, but it slips behind Stormont-Vail when neighboring counties are added and has been between 22-27 percent areawide market share since at least 2019.
Board of Trustees Chair Luke Arndt says financial issues facing rural hospitals are widespread.
Nationally, according to stats provided by the hospital, 50 percent of rural hospitals are operating at a financial loss. The number increases to 90 percent in Kansas.
