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Eide Bailly Review of Future Cash Projections for Hospital

Rangley District Hospital employed the professional services of Eide Bailly to research our financial situation. The company looked at every angle of our healthcare services. They determined how much revenue is recieved from both internal and external sources, as well as the needed expenses to provide services to the community. In the end, they came to several vital conclusions.

Most importantly, maintaining and upgrading the old facility in order to meet federal regulation would have cost more to the community than building the new hospital. This doesn’t even consider the advances in services provided due to having better facilities. Another important highlight is that Rangely Medical has already cut back on expenses as much as possible, without having to cut actual patient care services. In the 40 years of working with rural healthcare, the author of this study believes Rangely has the best setup he has ever seen.

In conclusion, the study points out that without the implemenation of a mil levy increase, there will be no choice but to discontinue vital healthcare services to our community. The lowest estimate of revenue loss to Rangely is $12 million, though the study expects the actual figure to be higher. Regardless, the author states how our community “has built a wonderful health system that works very well for your location.” The full report can be read at the link below and we encourage you to take a look at the rest of the details.

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