Hospital finances
The Washington State Auditor’s office has completed their report on the hospital.
The state auditor’s March 20 report has confirmed what many in the community suspected.
The hospital is on financial “thin ice” once again.
The auditor’s findings are as follows: “The district does not have sufficient funds to cover its financial obligations… Over the last five years, the district’s operating loss and net deficit have steadily increased.”
I am not an accountant, but I find it interesting to see the loss continue, year after year, through 2008.
How does the hospital stay open, you may ask?
Why, it’s really quite simple. It borrows. And borrows. And borrows. The debt is just extended into oblivion.
Well, all good things come to an end. The auditors report noted that in October 2008, King County informed the district it could no longer borrow money from the county when it had a negative cash flow. At the same time, a private bank rejected the county’s request to hold interest-bearing warrants for the district.
Some members of the public asked that a short question-and-answer period be a part of the monthly public meetings. The answer was a resounding “No.”
Wait a minute! This is a public hospital, supported by the taxpaying public. So much for transparency!
Selling the hospital to the Snoqualmie Tribe was a good first step, especially with Swedish Medical Center building a new hospital less than ten miles away.
The next step should be obvious.
Either close the hospital or change the name to Snoqualmie Valley Nursing Home. Most of their income is generated through supplying services such as swing beds, traditionally supplied by nursing homes. With their tax-supported seven clinics, they are already competing with all of the “For Profit” medical clinics in the area.
Herschel Backues
North Bend
• Editor’s note: Snoqualmie Valley Hospital Administrator Rodger McCollum told the Valley Record that the purpose of monthly meetings is to conduct the business of the district. He said the hospital holds periodic venues to take public comment and questions. The full text of the audit, and the hospital’s response, can be viewed at www.sao.wa.gov by searching for King County Public Hospital District No. 4 under the “Current reports” link.
