Policy and monthly reports highlighted the monthly CareArc Board of Directors meeting Tuesday.
In addition to the monthly medical, dental and pharmacy clinic reports, board members also reviewed policies for pharmacy billing and collections, family health care benefits and contract pharmacy management inventory. Speaking of pharmacy matters, CEO Renee Hively, who was unavailable for a direct interview, tells KVOE News the health center is still aiming for October 20 as the soft opening date for its new in-house pharmacy with “gradual roll out on insurances due to credentialing processes.”
As for staffing, Hively says CareArc has hired two certified pharmacy techs and is currently in the process of interviewing pharmacy clerks and a second full-time pharmacist, with Bill Bayes having recently been hired as a PRN pharmacist. This all comes as the health center is “finishing up” agreements that will allow it to place its first pharmaceutical order.
In financial matters, CareArc reported a net gain of $57,000 for the month of August, favorable to the budgeted gain of $53,000. Revenues were down $80,000, while expenses came in $85,000 under budget.
Year-to-date, CareArc has a net gain of $206,000, which includes grant funds that were put towards the construction of the in-house pharmacy. According to a correspondence from CFO Seresa Howe, the grant allows CareArc to recognize the funds as revenue; however, the “offsetting construction expenses are not on the income statement as they are a long-term asset.”
The CareArc Board of Directors will reconvene for their regular monthly meeting on October 28 at noon inside the CareArc main campus.
