In order to meet lawmakers\u2019 expectations and increase the standard of hospital care, the Commonwealth Healthcare Corp. is working on identifying different revenue streams that will be outlined in a business plan that is close to finishing, according to Esther Mu\u00f1a, chief executive officer for CHCC.<\/p>\n
Last February, the Legislature asked Mu\u00f1a to shed light on CHCC\u2019s status, but she said at that time the business plan was already in the review process.<\/p>\n
In order for CHCC to address its costs, Mu\u00f1a said the business plan includes different revenue streams CHCC\u2019s financial status, and its proposed plan to bail itself out of its financial morass.<\/p>\n
Mu\u00f1a presented the hospital\u2019s costs in fiscal years 2011 to 2014 at the Saipan Chamber of Commerce monthly meeting yesterday at Saipan World Resort.<\/p>\n
In response to Chamber president Alex Sablan\u2019s query on their current annual shortfall, Mu\u00f1a said: \u201cWe are working on our financial statements first and will be published soon as required by law, but right now it is showing $9 million in annual shortfall. We are working on it. Right now we have money in the bank; however, that will be used to pay the Marianas Public Land Trust,\u201d Mu\u00f1a said.<\/p>\n
She declined to furnish details on the $9 million annual shortfall, saying the upcoming financial statements and business plan will go into that.<\/p>\n
Mu\u00f1a did disclose some revenue streams that the corporation proposes to do.<\/p>\n
\u201cWe are looking into foundations, and doing an application to prepare the foundation. This will be a charitable foundation. This will help us reach out in generating more revenue,\u201d Mu\u00f1a said.<\/p>\n
\u201cWe are also looking into medical tourism, partnerships such as our residency program from the University of California, San Francisco. We are also looking at more revenue streams, which is what will be in the business plan and it\u2019s close to finishing,\u201d she added.<\/p>\n
CHCC was established in 2011 and, based on an audit report for fiscal year 2012, still \u201cneeds to strengthen its financial reporting.\u201d The audit report also recommended that CHCC come up with a business plan.<\/p>\n
The business plan is widely expected to contain how CHCC will address most, if not all, questions regarding its financial and management plans.<\/p>\n
Mu\u00f1a said that despite its financial difficulties, CHCC cannot just shut down the hospital and its health centers on Saipan, Tinian, and Rota.<\/p>\n","protected":false},"excerpt":{"rendered":"
In order to meet lawmakers\u2019 expectations and increase the standard of hospital care, the Commonwealth…<\/p>\n","protected":false},"author":45,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[56,666,140,2364],"class_list":["post-200965","post","type-post","status-publish","format-standard","hentry","category-local-news","tag-business-3","tag-chcc","tag-commonwealth-healthcare-corp","tag-esther-mu"],"_links":{"self":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/200965","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/users\/45"}],"replies":[{"embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/comments?post=200965"}],"version-history":[{"count":0,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/posts\/200965\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/media?parent=200965"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/categories?post=200965"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.saipantribune.com\/index.php\/wp-json\/wp\/v2\/tags?post=200965"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}