In other action
The Memorial Hospital Board:
• Approved, 7-0, consideration of Emdeon Claims, for billing and payment services, with a one-time setup fee of $12,565 and a monthly service fee of $1,329.95. Emdeon will handle the hospital's revenue cycle management
• Approved, 6-0, an HVAC contract to Shepherd and Sons for purchase and installation for A/C condensers in the MRI building, in the amount of $8,035
Citing the need for extra space, The Memorial Hospital has started looking into the possibility of adding a medical office building at the new hospital campus.
During its meeting Wednesday night, The Memorial Hospital Board heard a feasibility and market study from Greystone Brokerage & Development of Franklin, Tenn.
The purpose of the feasibility study was to recommend the size, scope and cost of a medical office building, TMH Service Excellence Officer Samantha Johnston said.
The building would potentially house specialized physicians, physical therapy and business and administrative offices.
"What Greystone recommended was a 32,000- to 34,000-square-foot building," Johnston said. "That would meet all of our needs."
Johnston said the project would cost an estimated $7 million.
The building would be separate from the new hospital but accessed through a walkway.
Johnston said having the specialized clinics on the new hospital campus would increase efficiency.
"If you go to see the doctor, and they refer you for X-rays, you can walk a short distance to have them performed," she said. "It would be all in one area to maximize convenience."
Funding for any new building could come from three options, Johnston said.
"The first would be to have a third-party developer provide capital and service for the project, with zero financial investment for the hospital," Johnston said. "The third party developers would essentially be leasing the dirt."
The second option would be a joint investment between the hospital and a third party developer. The plan would be essentially the same, Johnston said, but the hospital would invest money in the project.
"And the third option is to have the hospital hire the developers and contractors like the new hospital project," Johnston said.
The TMH board did not make any actions or recommendations with the study but will revisit it, possibly during its next meeting.
"There's been no decision at this point," Johnston said. "Possibly during next month's meeting there might be a discussion to pursue or choose which option as we move forward."
Johnston said the hospital's current revenue would not be able to fund the project, but after the transition from the old building to the new building, it could be a possibility.
"We want to make sure we have a solid cash flow at the new facility before we make any decisions," she said. "We don't want to bite off more than we can chew."
Johnston said building the medical offices was not a question of if, but how.
"There is no doubt that in the future there will be a medical office building," Johnston said.