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Financial Stability and Sustainability
Financial stability, sustainability, and accountability are some pretty important words when applied to a business’s success. When you add health care into the mix it gets even more interesting. Navigating health care reimbursements, state and federal regulations and laws, and then providing life-saving care and diagnostics on a 24/7 basis makes the puzzle very complicated. It goes without saying that such a business must have the right people in the right places at the right time.
From 2006 to-date, Citizens Medical Center, Inc. (CMCI) has invested over $8.6 million in order to keep its medical services as state-of-the-art as possible. Why has CMCI spent so much? Because patients need the facilities and technology, and because it is smart business.
Our commitment to the future and to those we serve ensures our success. As part of the CMCI strategic planning process, the following investments have been made at Citizens Medical Center in Colby without the help of public tax dollars from county tax rolls or sales tax dollars:
2006: Family Center for Health Care Clinic Expansion - $850,000
2006: Orthopedic Surgical Equipment - $500,000
2007: 16-Slice CT Scanner - $750,000
2007: Nuclear Medicine Camera - $720,000
2007-2008: MRI and Building - $933,000
2009-2010: CMCI Annex, Laundry, Rehab Services, HVAC Additions - $4,600,000
2011: Digital Mammography System - $250,000
It has taken many resources to make the above improvements and expansions possible. All our efforts, however, have not been totally focused on building and expansion. We have spent many years recruiting and retaining medical providers. Our successful recruitment efforts are due, in large part, to the excellence of our staff, our technology, and our facilities.
CMCI is being blessed again. Our hard work is paying off. In August of 2012, Dr. John Dygert, Family Practitioner, will join Family Center for Health Care. In 2013, we will welcome two more physicians to CMCI. Dr. Kelly Gabel, General Surgeon, and his wife, Dr. Sarah Gabel, Family Practitioner, will join Family Center for Health Care. The additional services we will be able to offer with the arrival of these new providers will include emergency surgeries, gynecological procedures, biopsies, and diagnostics, which will allow our citizenry the comfort of receiving necessary health care close to home in Colby.
Take all of that in, and then consider that CMCI does it profitably on a regular basis. CMCI has continued to maintain a positive bottom line since 2005 without the need of tax support. Our $10 million payroll alone demonstrates our investment in the right people, our $8.6 million investment in technology upgrades and expansion demonstrates our commitment to our facilities, and our history positions us for bold placement in our future market. Health care is a very personal business, yet it must remain in business to provide for its community. This is evidenced by the investments area hospitals receive from their citizens through mil levies and sales tax revenues.
What does the future hold?
The delivery of health care is undergoing its most significant changes since the early 1980s when our government adopted the prospective payment system for payment of hospital services for Medicare beneficiaries. No one knows exactly what the future has in store for hospitals, except that changes will occur.
However, through the visionary thinking and good strategic planning by CMCI’s Board of Trustees, CMCI is in an excellent position to improve the health care our citizens require, and also assist our neighbors in meeting the health care needs of their citizens during these ever-changing times.