Financial matters linked to coronavirus dominated the Newman Regional Health Board of Trustees’ monthly meeting Wednesday.
Chief Executive Officer Bob Wright says the hospital’s bottom line is taking a hit now with a range of procedures now offline as the pandemic continues.
Help is on the way, at least in the short term.
The grant money does not have to be repaid. The advanced money does, however, and the federal government will essentially withhold its normal payments until the advanced money is paid. Wright says it may take until January for that to happen, which leads to concerns about cash balances possibly running out before the advances are paid because losses will continue until all normal patient services are restored.
The hospital is eligible for a Paycheck Protection Program loan in the current stimulus package, according to an opinion from Attorney General Derek Schmidt, so it has applied and is awaiting word on that status.
The monthly board meeting came between the KVOE-Newman Regional Health COVID-19 Community Briefings, with one program Tuesday and the next one Friday morning. The Community Briefing is at 10:06 am on 14 KVOE, 96.9 FM and KVOE-TV at KVOE.com.
