Video- Ray Reynolds (Glen Rose Medical Center) CEO Report-Finances-Cut Backs July 2016


 

Video- Ray Reynolds (Glen Rose Medical Center) CEO Report-Finances-Cut Backs July 2016
 


31 July 2016 at 8:27:05 AM
salon

Rough Transcript (watch video for exact) 
Reynolds: A follow up of where we are with trying to get our operating expenses in line with our expected revenue. The reductions, either through resignations or employee reductions, we have 11 positions on that list that totals 37624 a month in savings from employee reductions. We've reported this before, those people that are taking salary reductions, that 8,116 a month. Change in services, Dr L's contract and elimination of night coverage for cardio, 31,774 a month. Now have quantified the change made in employee benefits and quite significant.Matching of 403b eliminates10800. Emloyee contrib health savings 4550 at month, wellness credit cut in half , 6500 savings, not big but a savings, Eliminated employer paid life insurance. Big saveings change to employer contrib to employee health insurance was 21,500 a month addition 7500 a month moving from CHC in house (that was their management fee). Total 51,500 a month savings a month. We recognize many of those expenses we're pushing back on the employees. Employees have been receptive. Have lost 2 or 3 because of it. 1 million 548 a year. Hats off to management staff
 

Reynolds We collect about a million a month in employee services, 100,000, 90,000 in other income, rental from nursing home, services to plant. Goal to get operating expenses under a mllion dollars. Good news, grant received, SHP grant, (Small Hospital) used for training and safety and health investment projects. 

 


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