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HomeMy WebLinkAbout04292024 City Council Work Session Laydown - ProvidenceProvidence Seward Operations Update for City Council April 29, 2024 240429 City Council WS Laydown - Providence • Owned by City of Seward and managed by Providence since 2002 • 175 employees • 5 full time physicians • Local Advisory Council meets monthly • Fiduciary and regulatory oversight by Providence regional governing board • Quick financial update: •* Ended 2023 financially strong •* 2022-2023 volumes increased YTD •* Reduction in agency usage Providence Seward Overview 2 • 6-bed Critical Access Hospital • Level 4 trauma designation • Full-service laboratory • State of art imaging department • Specialty clinic Providence Seward Medical Center 3 • 4 lodges of 10 residents/lodge (Eagle, Fireweed, Lupine and Raven) • Lodge Staffing: Nurse, 2 CNAs & Lodge Cook – days; Nurse & CNA - nights Providence Seward Mountain Haven 4 5 24/7 staffed Emergency Room 6 Inpatient/Swing Bed rooms Imaging Laboratory Specialty Clinic SART Program Echocardiogram Services Offered at PSMC Services Offered at Mountain Haven 6 40 Long Term care beds Therapy services for residents, hospital inpatients, and community outpatient On the job training – CNA “Earn as You Learn” Program Community Impact 7 Annual Foundation funding to local non-profits Annual support for Seward Area Hospice Sponsorships: Polar Bear Jump Seward Cares Event Spring Health Fair Alaska Sea Life Center Seward High School Business Scholarship Bike Rodeo 4th of July Mt Marathon Race Butterfly Release – Hospice Fundraiser Silver Salmon Derby Rotary Golf Tournament Fall Health Fair Trunk or Treat Community Winter Movie Series with JAG & Seward Arts Council Breakfast with Santa Kids Community Craft Afternoon Holiday Lights Contest New Year’s Eve Fireworks 8 Challenges Mtn Haven at capacity Staffing – Housing Behavioral Health Hospital at capacity Vision for the future of Seward - LTC 9 Seward Mountain Haven Expansion Pro-forma Key Assumptions Potential Risks 11 Financial Projections – 10 Bed Lodge Addition •Highlights • Estimated incremental annual EBIDA of between $0.7M - $1.2M • Projected positive cash flow beginning first full year upon project implementation • Expected positive growth in future years •Capital Investment Required: ~$11.7M (All capital figures are ROM) • 10-bed lodge construction: ~$9.4M • Corridors connecting all 5 lodges: ~$1.7M • Equipment: ~$0.6M 12 Financial Projections – 16 Bed Lodge Additions •Highlights • Estimated incremental annual EBIDA of between $1.7M - $2.7M • Projected positive cash flow beginning first full year upon project implementation • Expected positive growth in future years •Capital Investment Required: ~$17.7M (All capital figures are ROM) • 10-bed lodge construction: ~$9.4M • 6-bed lodge construction: ~$5.6M • Corridors connecting all 5 lodges: ~$1.7M • Equipment: ~$0.6M 13 What about the current hospital building? • No space to bring in the services the community needs • What services does the community want to have locally? • How to mitigate the risk of living in Seward Thank you for your time. Any questions?