Austin, TX (November 6, 2012) NewLight Healthcare, an Austin, Texas based hospital management and consulting company, was recently engaged by Red River Regional Hospital to identify new programs that could help to improve their financial performance. Out of that engagement came the recommendation for Red River Regional Hospital to do a long term lease of their operations to a newly formed Fannin County Hospital Authority.
In late October, 2012, Fannin county commissioners voted to turn Red River Regional Hospital in Bonham, Texas into a public hospital authority, which means the facility can compete to receive millions of dollars in state and federal funding.
Being a hospital authority will allow the hospital to compete for a piece of the federal government’s $29 billion 1115 Waiver Funds awarded to the state of Texas. The hospital could receive $8 million to $25 million in funding. This will bring in more doctors, nurses and the opportunity to expand wellness programs.
David Conejo, CEO of Red River Regional Hospital, stated that “The association with NewLight has provided us with avenues to obtain funding which can only strengthen our hospital. While the 1115 waiver is the most prominent, there have been several other suggestions which can result in a few hundred thousand dollars flowing to the bottom line. We are grateful for this affiliation.”
About Red River Regional Hospital
Red River Regional Hospital (RRRH) is a hospital dedicated to delivering quality healthcare to Bonham and the surrounding areas. Working hand-in-hand with our community leaders, hospital employees and medical staff, RRRH is there to support us with the resources, buying power and management expertise that will help our hospital not only succeed, but prosper.
About NewLight Healthcare
NewLight Healthcare is a hospital management and consulting firm based in Austin, Texas focused on serving the unique needs of rural and small community hospitals. NewLight offers a vast array of consulting services designed to improve the health of your hospital such as; financial services, revenue cycle services, online financial benchmarking tool, cultural transformation, managed care contracting and more. Our professional team has extensive experience and is inspired to ensure the long term success of your hospital.