Central Iowa Health Care trying to work through financial problems

Central Iowa Health Care held a special meeting of the Corporation`s membership on Wednesday at the hospital. According to financial reports that were disclosed, they were in debt to the tune of 18 million dollars. Steven O’Grady was hired as a new Chief Financial Officer some 10 months ago and he says he has been working on financial problems ever since arriving on the scene. The volunteer Central Iowa Healthcare Board of Trustees members told the audience that steps are being taken to right the ship and discussions with potential partners continue. Difficulties go all the way back to the arrival of the Affordable Care Act in 2010, added in are expectations from the new Outpatient Center that did not happen and also a conversion to an electronic health records system, the last two events happening in 2015. The new Outpatient Center increased costs and provided no additional revenue, and the new electronic health records system caused revenue flow problems in and of itself. The Alvarez Marcel Company has been hired to help Central Iowa Health Care with certain financial management issues, they have only been on board a short time. The Board of Trustees replaced CEO John Hughes with Chief Operating Officer and Interim CEO Dawnett Willis, she has been on the job less than two weeks.

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