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UW Hospital & Clinics Watertown Regional Medical Center Pediatric Funding Proposal

UW Hospital & Clinics Watertown Regional Medical Center Pediatric Funding Proposal. Mike Buhl, Senior Vice President and Chief Financial Officer April 7, 2010. Background. Watertown Regional Medical Center (WRMC) has been a UW Health Partner since February 2008.

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UW Hospital & Clinics Watertown Regional Medical Center Pediatric Funding Proposal

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  1. UW Hospital & ClinicsWatertown Regional Medical CenterPediatric Funding Proposal Mike Buhl, Senior Vice President and Chief Financial Officer April 7, 2010

  2. Background • Watertown Regional Medical Center (WRMC) has been a UW Health Partner since February 2008. • Over the last 2 years, UW Health has developed many service, program and physician services with WRMC. • pulmonary/sleep, telestroke, Johnson Creek clinics, cardiology, neurology and orthopedics. • Desire to continue relationship and build upon areas that will benefit both organizations.

  3. Proposal • With the AFCH brand and service quality, it is anticipated that both WRMC and AFCH will capture increased market share with this association. • The Pediatric/AFCH business plan strategy for growth is to develop relationships in the region. • WRMC’s desire is to increase their capability to provide pediatric services. • An AFCH branded pediatric inpatient unit at WRMC could accomplish both objectives. • AFCH would provide a clinical nurse manager, training of WRMC’s nursing staff and Medical Directorship through Dr. Chris Green.

  4. Business Plan / Investment • WRMC will require an initial investment for their inpatient pediatric unit for demolition and rebuild of new patient/family rooms. This investment is approximately $570,000. • The proposal for sharing in both the startup and on-going operating gains/losses is 50/50 between WRMC and AFCH. • This would require an upfront investment of $280,000 and a potential year one share of the loss of $278,000. • Achieving positive net income by year 5.

  5. Recommendation The Finance Committee recommends to the UWHC Authority Board that UWHC partner with WRMC in the AFCH Pediatric brand and share in the funding as outlined above.

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