The Decatur County Memorial Hospital Governing Board held its regular monthly meeting on January 25, 2024, at 7:00 pm. The meeting was called to order and everyone was welcomed.
Molly Fry, Chairperson welcomed Dennis Fogle to the board and stated that during his orientation he had already completed his oath of office. Molly stated that they had two re-appointments to the board. Those re-appointments were Dr. Nicole Boersma MD & Dr. Larry Rueff DVM, they were then recited their oath of office. Next an appointment of Treasurer Rex McKinney, President & CEO, and Co-Treasurer Catherine Keck, CFO was unanimously approved.
The board then approved the meeting minutes from the December 14, 2023 board meeting. Catherine Keck, CFO provided a financial review including cash and investments, in December 2023 stating that the hospital currently has favorable margins at 4.16%. Stating that overall they are encountering rising drug costs and that has affected the margins. Rex said that there is a Capital Asset Purchase Request for $35,000 for an ENT device to be utilized during surgery. Also, the Pathology Department is requesting to purchase a microscope for $2,400. Both of those requests were approved.
The Planning Committee provided a report from their January 2nd meeting stating that with it being a new year they didn’t have much to discuss other than they are ready to begin the year and move forward. The Quality Committee provided their report for the meeting stating that they reviewed their 2023 goals and prepared and reviewed the workplan for 2024. The committee feels that they have a good work plan in place for 2024. The Finance Committee provided a report from their January 23rd meeting stating that they didn’t have much to report as the CFO had already touched on the financial information. The Investment sub-committee met on January 18th and stated that they met with two Investment Advisors where they together discussed investment strategies and discussed the appropriate percentage of interest to be invested.
The next topic was Conflict of Interest Statements, Molly stated that Rex and Catherine had provided theirs and were included in the board packet. She stated that they still have a few that board members had not returned and asked that they get those in. The next agenda item was Catherine, CFO stated that the bank requested new signatures for the eight accounts that are currently utilized. A total of 4 signatures need to be on the card which was approved to include two board members Dr. Larry Rueff and Bryan Robbins, and also including two management members who were approved to be Rex Mckinney, CEO, and Catherine Keck, CFO.
Catherine, CFO asked for approval to continue a line of credit with First Financial Bank for 3 million dollars at an interest rate of 7.2%. The cost to maintain this line of credit is $600 per year. The board all approved this.
Molly, Chairperson stated that 2024 Committee Assignments were discussed in the Executive Session that was held before the Monthly board meeting, she asked if anyone had questions or further discussion, hearing none she moved forward with the agenda.
Rex McKinney then presented the CEO Update stating that overall the hospital performed and operated better in 2023 vs. 2022. He brought up the discussion about margins and stated that something hospitals are encountering is Assessment Fees are rising and affecting budgets in many hospitals, and not just DCMH. He spoke highly of the Human Resource Department and the entire staff overall because they are currently operating at a 17% turnover rate. Rex stated that something he is personally proud of is how the hospital gives back to the community and how the hospital and the staff work hard toward community engagement. He stated that in 2023 3600 hours of community service were performed by staff. He also stated that he values participating in community events and noted two upcoming events Ag Day, and The Women’s Health Expo. He then stated that the Rehabilitation Building is moving forward and they have run into a small delay in paperwork but that it is moving forward.
Dr. Nicole Boersma MD provided the Medical Staff Report stating that the following applications for appointment to DCMH Medical Staff. Courtesy Staff is Dr. Sanders, MD ER- Team Health, Dr. Abedon MD Telerad/Surgery- Submit Radiology, Dr. Rutter MD Telerad/Surgery-Summit Radiology, Dr. Doram MD Wound Care/Surgery Outpatient Integrated Strategies, LLC. Allied Staff John Mckinney, PA- Physician Assistant/Medicine- Southern Indiana Orthopedics, Jill Kreimeyer LMHC- Licensed Mental Health Counselor/Medicine- Senior Life Solutions, Carrie Butcher NP Nurse Practitioner/Medicine/ER- Team Health, Kelly Miller FNP Nurse Practitioner/Medicine Tree City Medical Partners & Decatur County Primary Care DCMH Employee, and Jeffrey Ferguson CRNA Certifed Registered Nurse Anesthesiologist/Surgery- DCMH Employee. One active staff member Isaiah Steffen MD Family Practice with OB/C-Section/Medicine-DCMH Employee. Dr. Boersma then listed the terminations of Dr. McCarty MD ER- Team Health and Dr. Kinn MD Cardiology/Medicine- St. Francis Cardiology. All staffing changes were unanimously approved.
After the meeting, I spoke with Dr. Nicole Boersma, MD and she stated that Dr. Steffen is currently accepting new patients. Also stated that Jennifer Jersan, NP is currently accepting new patients.
The next Board meeting is scheduled for March 28. 2024 (No meeting in February). The meeting was then adjourned.