Financial help continues to stream into Newman Regional Health for its work in battling the coronavirus pandemic.
On the latest KVOE-Newman Regional Health COVID-19 Community Briefing, CEO Bob Wright confirmed the hospital has received around $6 million in funding through the Small Business Administration’s Paycheck Protection Program. Wright says the hospital had to meet several criteria before qualifying. The hospital found it could use the money as a federal assistance grant, not borrowed money, because county-owned hospitals like Newman Regional Health cannot go into debt under state law. Wright also says the hospital met two exceptions to the program’s employee limit.
Wright credited federal lawmakers Roger Marshall, Jerry Moran and Pat Roberts for their work to allow public hospitals to be included in the stimulus package that recharged the PPP a couple weeks ago. He also credited hospital attorney Andy Ramirez for his research into the matter.
The SBA funding coincides with $1.5 million in grants from the $2.2 trillion CARES Act and almost $11 million in advance Medicare payments. The CARES Act funds don’t have to be repaid, but the Medicare payments do. Wright says there is “heavy discussion” on that topic. The Medicare advance won’t cover the nearly $3 million a month the hospital is losing because it’s not allowing elective procedures at this time.
The KVOE-Newman Regional Health COVID-19 Community Briefings are now taking place at 10:06 am every Friday on 14 KVOE, 96.9 FM and KVOE-TV at KVOE.com.
