Hospital using ‘rainy day funds’ to sustain during pandemic

Photo Source: www.mtgraham.org

SAFFORD – Roland Knox, CEO of Mt. Graham Regional Medical Center, said the hospital is in a good financial position through the first few months of the COVID-19 pandemic, thanks to preplanning by hospital officials.

“We’ve done a good job of setting aside ‘rainy day’ funds. So we’re using that, dipping into that as we need to. And, again, the organization has been very well run, for a very long time, in anticipation of something like this happening. But we are concerned with it from the standpoint of how long can we sustain that?” Knox said during an appearance on Voice of the Valley.

To reduce the number of people entering the facility, the hospital has postponed all elective procedures and other routine services, limiting cash flow.

MGRMC was one of the first facilities in the state to limit visitors to patients in the hospital to just one and only if the visitor is considered “essential” to the patient’s care. The hospital also required everyone in the facility to wear a face mask before the CDC mask recommendation.

In a prepared statement, hospital officials said medical provider “is well equipped with ventilators and has a stockpile of Personal Protective Equipment (PPE) adequate to meet the needs expected for the next two weeks and beyond.”

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