Arkansas' Drew Memorial Hospital Asks for Voter Support to Build Proposed Surgery Center
My Monticello News report.
Hospital administrator Michael Layfield said without the millage extension, the hospital will not be able to open the surgery center on the same timeline. He said the millage extension is expected to generate $3 million, which would be used to help build the center.
Shannon Clark, hospital CFO, reported that the hospital currently has $8.6 million in cash, but cannot spend it all on the surgery center. The surgery center will apparently cost $8 to $10 million to build, though no exact plans have been presented to the board.
The hospital would use the surgery center to grow its surgical services, partly by recruiting a full-time ENT surgeon to come onto staff. The $3 million which will be realized from extending the current millage and refinancing bonds, if voters approve, and additional federal incentive money from upgrading EMR, would allow the hospital to build the surgery center without taking on more debt.
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