The Phelps County Regional Medical Center (PCRMC) Board of Trustees met for their regular meeting last Wednesday, July 26, following a meeting and presentation by the Financial Committee The board compared the hospital’s financial situation to other similar-sized hospitals, the staff vacancy rate, and an update on the PCRMC Medical Plaza.

The Phelps County Regional Medical Center (PCRMC) Board of Trustees met for their regular meeting last Wednesday, July 26, following a meeting and presentation by the Financial Committee The board compared the hospital’s financial situation to other similar-sized hospitals, the staff vacancy rate, and an update on the PCRMC Medical Plaza.

1) Cash on Hand
The financial committee discussed the amount of cash-on-hand held currently held by the hospital. According to PCRMC’s Financial Officer Jana Cook. The survey she presented showed the average number of days hospitals could operate should they lose all sources of revenue.

The average number of days a hospital of PCRMC’s size could operate under such conditions is 45, a number which has decreased over the years, according to Cook. She also mentioned that approximately 180 hospitals in the country have enough cash to operate for three days or less should they lose revenue. PCRMC settles in the high/above average placement in this category, being able to operate for 282 days in the event revenue is halted or decreased.

2) Waynesville Medical Plaza
The financial committee additionally reported on their medical clinic located in Waynesville, the PCRCM Medical Plaza, which was constructed in 2015 to serve the medical needs of Pulaski County, including Fort Leonard Wood, Waynesville and St. Robert. According to Cook’s presentation at the meeting, the Plaza is doing financially well, with an increase in revenue since the previous year, and the Plaza has the potential to grow in the future.
    
3) Staff Vacancy Rate
During the regular board meeting, the personnel committee gave the report of 105 job openings with the hospital. No specific trends within departments were mentioned in terms of job turnover. The projected turnover of the hospital’s clinics is approximately 16%, which according to the personnel committee would make for one of their higher years.

It was also mentioned that according to the Missouri Hospital Association (MHA), the shortage of nursing staff is the highest it’s been in 16 years. The personnel committee reported that PCRMC’s nurse vacancy rate is proportionally similar to the rest of the state. 19 new nursing school graduates were recently hired by PCRMC. Due to the shortage, the personnel committee reported that the Registered Nurse job group within PCRMC did receive higher pay increases, to help make the PCRMC more competitive in relation to similar hospitals.