Parkway Surgical and Cardiovascular Hospital – Wise Regional Health System’s latest satellite hospital – is expected to begin seeing patients the first week of May.
Wise Regional CEO Steve Summers told his board Monday at their regular monthly meeting that the facility is waiting for finalization of its pharmacy license.
The new hospital is located on Interstate 35 in Fort Worth on North Tarrant Parkway. It is designed as a state-of-the-art surgery center with an array of facilities for elective surgeries as well as emergency procedures.
Summers introduced Denise Scurlock as the administrative director for the Parkway campus. Scurlock has more than 20 years’ experience in health care.
Even though Parkway isn’t generating income yet, the hospital system still had an increase in net assets of $150,000 for the month of March on gross patient charges and other revenues of $44 million.
CFO Jim Eaton told the board the volume for inpatient and outpatient services increases in March compared to the previous month, including a 20.1 percent rise in inpatient admissions, driven by a nearly 40 percent increase in inpatient rehab and behavioral patients. Outpatient services were up 5.7 percent from the prior month.
The Bridgeport campus continues to show losses, with lower surgery volumes and all other outpatient services lower than expected. The campus lost $253,000 in March – but adjusting that number for depreciation brings the cash effect at Bridgeport to a loss of $126,000.
Eaton said operations there continue to be monitored to see what further efficiencies can be gained.
The board also heard the 2013 audit report from CPA Michael Oatman. Overall, he said the hospital is in excellent financial condition.
Summers updated the board on efforts to re-finance a significant part of the hospital’s debt. A board meeting is planned in early June to make that official – a move that will save WRHS millions of dollars in interest payments due to an improved bond rating.
Also at Monday’s meeting, Chief Nursing Officer Sue Sewell, RN, reported to the board on retention strategies for nurses.
Currently Wise Regional’s vacancy rate is 6.9 percent, and the turnover rate for nurses is 20.7 percent. Both of those are below state averages, but Sewell said they are working on strategies to get them even lower.
“It is the consensus that the longer our nurses stay at our facility, the better it is for patient care,” she said.
She also pointed out that the Obstetrics department earned recognition recently for being in the 99th percentile of the Press-Ganey patient satisfaction ratings for six consecutive months.
Summers expressed his appreciation to physicians and staff after it was noted that Wise Regional was named a recipient of the 2014 Outstanding Patient Experience Award from Healthgrades – a leading resource that helps consumers search, evaluate, compare and connect with physicians and hospitals.
He said the award places WRHS in the top 5 percent nationally for patient satisfaction based on 27 different questions that encompass 10 distinct measures – ranging from cleanliness and noise levels in patient rooms to factors like pain management and responsiveness to patient’s needs.
The measures also include whether a patient would recommend this hospital to friends or family.
The board also approved new appointments to the medical staff based on recommendations of the Medical Executive Committee, and accepted the medical staff’s reappointments and first-year reviews.
The next scheduled meeting is 6 p.m. Monday, May 26, in the Administration Board Room at 609 Medical Center Drive in Decatur.