The facility's 53-year history of quality care for the county's most vulnerable citizens is to be commended. For that reason, I am asking residents in this community to join me in applauding the BHRC administrator and staff for the facility's outstanding audit.
Bill Matheney of Matheney, Stees & Associates presented the independent audit report to the Bradley County Commission on Monday, Oct. 25. The results, which reflected a strong balance sheet, were impressive.
Mr. Matheney reported that BHRC's current ratio is far above average at 3.63 to 1, with no debt. The Nursing Center made a profit this year of approximately $563,000 and had a positive cash flow of approximately $657,000. Approximately $12 million flowed in from patient-related services with $7 million going back to employees and $4 million to vendors, most of which are local. Improvements and renovations of about $200,000 were made to maintain the facility to be able to serve the Bradley County residents.
In addition to the positive financial report, the independent auditor pointed out some important moves designed to keep the facility financially sound well into the future.
BHRC management has escrowed excess cash for a “rainy day” fund. This may become extremely important if, or when, the state is forced to evaluate and cut the way it pays for nursing home care. This prospect is already on the horizon this year as Medicare is re-engineering the way it pays for nursing home care which could have an effect on future profitability for the center.
As mayor, I appreciate the BHRC administration, staff and board, and their effort to keep the nursing home on a solid financial footing.
While it is important to provide quality long-term care for our community's most vulnerable citizens, it is also important to keep costs down and continue to make the facility self-supporting. I agree with Mr. Matheney. The management team at Bradley Healthcare & Rehabilitation Center does a great job of managing the facility's cash flow while providing excellent care for the residents.
Our community is blessed with a number of outstanding long-term care facilities as well as the corporate offices of Life Care Centers of America, one of the nation's premiere long-term care providers. It is good that Bradley County citizens have a number of options when faced with long-term care decisions. I am glad that BHRC is one of the excellent choices.
Caring for our elderly and disabled is an important responsibility. It can also be an exhausting task requiring much patience and love. Yet, the BHRC caregivers are dedicated to nurturing a caring environment that values the resident's dignity and pride.
Many nursing home residents are the people who planted the seeds that have made our community what it is today. They have been the teachers, business people, parents and community leaders who produced the many good things we now enjoy.
As mayor, I am proud of the care provided by Bradley Healthcare and Rehabilitation. The facility's rich heritage of service, highly credentialed staff, quality care and commitment to the residents in their care are reasons to celebrate in response to an excellent audit report.
For information about Bradley Healthcare and Rehabilitation, visit their website at www.bradleyhealthcare.com.