The Norman Transcript

Government

October 29, 2013

Moore Medical Center goes vertical

Changing face of health care means shift in services offered

(Continued)

NORMAN —

Sixty-four percent of the respondents were aged 26 to 45. Predominant zip codes covered all of Moore and parts of Oklahoma City and Norman. Splitt said both the focus groups and the online survey indicated that emergency service is the most important service to retain in Moore.

The $28.8 million price tag does not include furniture, fixtures and equipment.

“This will not exceed insurance proceeds that are available,” CFO Ken Hopkins said.

Hopkins also reported that as of Sept. 30, NRHS’s bond rating was upgraded from BB+ to BBB- by Fitch Rating Services, a financial watchdog service that has tracked the health system and seen a multiple-year improvement.

“The key drivers supporting the upgrade included improving financial ratios, no significant disruption from the May 20 tornado, and a leading market share,” Hopkins said.

He further reported that Fitch “noted multi-year improvement in key financial ratios and results were in line with the BBB- rating level. In particular, they noted strong improvement in liquidity. They noted that debt burden is still high relative to the category, but it continues to improve.

“They also appreciated the opportunity to redesign the physical plant (at Moore Medical) with an eye toward increased efficiency and current health care trends,” he said.

Fitch pointed to the health system’s “leading and stable market share within its primary service area,” Hopkins said. “These factors combined to support the bond rating upgrade.”

Joy Hampton

366-3544

jhampton@

normantranscript.com

 

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