Wise Regional Health System will acquire and operate two nursing facilities in Fort Worth after action at a Monday meeting of the hospital’s board of directors.
Fort Worth Center for Rehab and Cityview Care Center are currently owned by Skilled Healthcare, Inc.
Wise Regional has been studying the proposal for several months. Their external accounting firm, BKD, LLP, provided a “due diligence” report on the facilities for the board to consider, and the hospital’s outside legal counsel, RCMH, Law PLLC was the primary negotiator in the sale.
The hospital will enter into a formal management relationship with Skilled Healthcare to continue providing all aspects of operational management at the two facilities.
Also at Monday’s meeting, Chief Financial Officer Jim Eaton told the board the hospital system overall had an increase in net assets of $329,000 for May, on gross patient charges and other revenues of $49.9 million.
Inpatient admissions were up 6 percent, while outpatient services decreased 2 percent from the prior month. The system’s new Parkway campus opened May 5.
The board made a special presentation to Sheila Boggs, RN for being voted “Best Nurse in Wise County” by readers of the Wise County Messenger and to honor her for 37 years of service to the hospital and community.
Hospital CEO Steve Summers provided an administrative report, outlining ongoing internal leadership training for Wise Regional’s managers and directors. Programs are presented throughout the year on topics including management strategies, retention and organizational development.
He also discussed the recent presentation made in Dallas on the 1115 Waiver program by Paul Aslin, Chief Operations Officer for Wise Clinical Care Associates.
Summers said through Aslin’s leadership, Wise Regional has been recognized as a leader in navigating the Delivery System Reimbursement Incentive Project (DSRIP) initiatives.
He noted the upcoming Texas Hospital Trustee educational meeting in July that will be held in Dallas for board members.
Other matters coming before the board included:
- Summers announced a contract had been finalized with a new OB/GYN physician. Cynthia Hartman, D.O., will join Russell Edwards, D.O. at Array Women’s Health in Decatur in September.
- Summers congratulated Wise Regional’s Marketing & Communication department, which recently won two national design awards by APEX Awards for Publication Excellence for its community newsletter, “HealthScoop” and the hospital’s re-designed website at WiseRegional.com.
- The president of the Bridgeport hospital auxiliary reported to the board on membership, hours of service and the presentation of five $1,000 scholarships to students who plan to pursue medical training.
- The Decatur auxiliary reported they recently donated $61,100 to the hospital for the purchase of a new piece of lab equipment. Representatives also attended a state volunteer convention and placed second in the scrapbook and first in the tray favor competitions.
- The board approved new appointments to the medical staff based on the recommendations of Wise Regional’s Medical Executive Committee and accepted the medical staff’s reappointments and first year reviews.
The next regular meeting is Monday, July 28 at 6 p.m. in the Administration Board Room at 609 Medical Center Drive.