Pauls Valley, OK, Pauls Valley Democrat

May 16, 2013

Authority close to hospital loan

Ezra Mann
Pauls Valley Democrat

emann@pvdemocrat.com — The next crucial step toward keeping Pauls Valley General Hospital around for the long haul is going to require a bit more waiting, but those involved in securing a lifeline are confident stability is just around the corner.

During the same meetings where a city council/hospital authority vote officially approved the change in a lease agreement where former hospital board duties were absorbed by the authority, City Attorney Jay Carlton and City Manager James Frizell made it known in an update how two area banks are both interested in being the primary lender in providing the needed $3 million line of credit.

Much of it still requires working out details as well as safeguards with the chapter 9 bankruptcy lawyers and was only on the most recent agenda just in case something was ready to be voted on.

“We have been in communication with both banks… There’s some things we’ve got to figure out,” said Frizell. “We’re progressing, we’ve been in contact with our bonding attorneys that we have used in the past so right now we’re just kind of waiting.”

“As soon as we have the thing put together to make a presentation we will,” said Carlton.

It was mentioned during previous meetings how part of that money will be used to pay off at least some immediate debt concerns and keep things afloat until a prospective buyer makes an offer on the hospital. Frizell also pointed out how as the city temporarily takes on more responsibilities there may be occasions when funds from the city government may be needed a time or few and a loan could cover emergencies that come up between city meetings.

The future also includes continuing through the 90 day due diligence with the current prospective buyer and considering whether or not paying off remaining debt will eventually involve bringing a sales tax proposition before voters. It is at the end of checking everything about PVGH by said outside entity that their name would be revealed upon the lifting of a non-disclosure agreement.

“There may be some things we do in the future we obviously want to reimburse ourselves because we may have to take some funds out of our pockets to fund some things that may need to be done real quick,” said Frizell.

From now on, the hospital authority will hold their regular meetings at 6 p.m. every other Tuesday and precede city council and the municipal authority before their regular time at 7 p.m.

Other items voted on and discussed by authority include the following:

• Unanimous approval of credentialing packets for Michael Boger MD and Salman Zubair MD for their Sleep Study Interpretation as presented by PVGH CEO Bridget Cosby.

• Unanimous approval of changes/modifications to PVGH’s policy and procedure manual as presented by Cosby. One major change mentioned was streamlining the admittance policy of patients to not obtain any financial information for payment of bills until after patient has been diagnosed and treated.

• Unanimous approval of on a service quotation from GE Healthcare for $7,908 by Authority.

• Majority approval on purchase of the Pyxis System from CareFusion Solutions LLC as presented by Bridget Cosby. It will basically be a 60 month contract on a drug dispensing system to better keep track of medications and make sure patients are charged for them at a cost of about $3,000 a month to the medical facility. Councilman Hal Blevins was the lone dissenting vote with concerns expressed on money like this spent during financially strapped times. Cosby’s reply was that it will ensure higher quality management and patient safety.

• Approval of four Ruby Raburn medical scholarships with $200 each from Pauls Valley General Hospital and PV Hospital Foundation for a total of $1,600.