Gary Passama

Gary Passama retired as president and CEO of NorthBay Healthcare on March 31, 2017. An active blogger since 2010, here’s a collection of his work.

Growing With Solano

April 23, 2015
 

With our $58 million Wellness Center under construction on our NorthBay VacaValley Hospital campus, our attention turns to the NorthBay Medical Center campus in Fairfield where we will begin a multi-year effort to replace current facilities.

The first phase will be a new visitor welcome pavilion starting construction later this year. It will be followed by groundbreaking for a new three-story wing next year. The new pavilion will provide expansion space for Solano County's busiest —by far —trauma center in space now occupied by the main lobby entrance.

The space will provide more room for diagnostic and support service space on the ground floor, a second floor for "hospital rooms of the future" (unlike anything else in the county) and a top floor of hybrid surgical suites which will be used for advanced procedures only available in NorthBay Medical Center. 

All of this requires funding, of course. If it has not already occurred by the time you read this, it will happen very soon. The first step in issuing bonds to finance the welcome pavilion is seeking yet another review of our credit worthiness by Standard &Poors. In essence it is a fiscal report card on NorthBay Healthcare.

We have worked closely with S&P over the past few years to keep them abreast of what we are doing here in Solano County. We shared our strategies and how we created new services in Fairfield, Vacaville and elsewhere. 

Our efforts paid off last week when S&P revised its outlook on NorthBay Healthcare, improving it from "stable" to "positive." That is a great achievement since many hospitals and health systems watch their S&P ratings decline.

It is always interesting to see how an outside independent firm like S&P views NorthBay. Here are several comments made by S&P in its report:

* "The positive outlook reflects our assessment of NorthBay's improved operating performance and our anticipation that operations will remain good, given management's focus on strengthening specialty service lines and controlling costs."

* "Although the broader service area is competitive, we believe NorthBay has been successful in building specialty service lines to help reverse outmigration and strengthen its business position. In recent years, management has developed several new or enhanced program offerings, including open-heart surgery, cardiac catheterizations, minimally invasive thoracic surgery, an accredited chest pain center, spine surgery, and orthopedics. Management continues to focus on further developing specialty service lines. Also, NorthBay started a trauma program in recent years."

* "Beginning in fiscal 2012, management's efforts to build service lines appeared to have made good headway, as evident in the previously mentioned volume and market share growth. In our view, this further development of programs and controlling costs will be critical for the organization as it navigates the challenging operating environment for the sector while approaching a very large capital plan."

Our mission of bringing advanced medicine, compassionate care, close to home is real. We are the only healthcare system in Solano County devoted to bringing new services to all who may need it. The result is much better patient care and outcomes.

And we have the ability to grow with Solano County.

Comments

 
 

Post A Comment