l. Executive Summary
ll. Call to Order
lll.Regular and Consent Agenda
lV. Reports
V. Presentations/Discussion/Action Items
New board member Rod Christenson was introduced. He replaces Robert Morrison who has moved out of town.
- Q3 Strategic Priorities Update (Zander Abbott, CEO)
Four goal areas were discussed:
Financial Performance– this was deemed at risk. The hospital had challenging summer months that have helped cause a 3.5% negative operating margin. They continue to work with Revitalize ‘25 (Kaufman Hall) on documentation (proper coding), point of service collection (collecting up front before procedures and text to pay), and clinical efficiency. Trying new models such as if a patient stays more than 4 days there is an automatic team meeting to discuss how the patient can get safely discharged sooner.
Engaged Workforce- not achieved. Working on a full benefit redesign in 2027, better communication, better rewards and recognition in real time.
Service Line Growth meeting this goal. Strategic planning was started with the OBGYN department and will be offering menopause education along with sexual medicine and obesity services. In the birth center working on education and a Level 2 nursery. Other departments to follow. Expanding community outreach to other communities.
Quality and Safety meeting this goal. Particularly good in the clinic. New focus on diabetes management.
Anticipating a strong 4th quarter.
The Wound Care Center has less volume than last year partly because of lack of staff– new staff have been hired which should help get more patient volume.
Vl. Executive and Committee Reports
- CEO report (Zander Abbott, CEO)
Trying to get out the message that we don’t want the care that we have here to disappear.
Policy Updates
The Federal Low Volume Adjustment program aimed at small hospitals has expired which will hurt rural hospitals.
Much discussion with no resolution about whether the hospital should do more to help people navigate Medicare and Medicaid. What about Advantage plans? It was suggested that the hospital pair with an organization such as the League of Women Voters to have a program explaining how people can get resources to help.
The hospital is anticipating changes in the number of people who don’t have health insurance.
Abbott will be part of a panel presentation at St. John’s at 7:00 on October 28th to discuss how changes to Medicaid are and will affect the hospital.
Regional Updates
OBGYN services in Owatonna will be ending in November. This may result in growth in our department.
Northfield Hospital and Clinics in Lakeville is expanding. A new physician has been hired who was previously in private practice in Lakeville.
There will be a Board retreat on November 6th. They will be developing strategic priorities for 2026 along with updates and planning for the Northfield Foundation.
- Financial Report (Eric Guth, CFO)
September had a 1.2 m loss– volumes were mixed.
Surgeries were 24% under budget
ED 7% under budget
Imaging procedures 11% over budget
Births 9% over budget
Operating expenses on budget
Will try to make up somewhat in Q4.
- Verbal Budget and Finance Report (Fred Rogers)
The committee met on October 14th. They looked at the investment portfolio and have some recommendations for some changes. Goals: simplify, stay conservative.
- Verbal Governance and Planning Report
The committee worked on retreat planning, updates to hospital business, and the next steps on board membership.
At this point, a Closed Session began.
Respectfully submitted by observer Anne Larson
