Feasibility Results are in – What’s next for the Riverton Medical District?
At their public meeting Tuesday night, the Riverton Medical District presented the results of the Feasibility Study conducted by Stroudwater, an out-of-state specialty healthcare consulting firm. The study cost a whomping $150,000 which has been paid in full by community members in support of building a new Riverton hospital.
The main purpose of the study was to determine if the Riverton community and surrounding areas could sustain a “greenfield” (built from the ground up) hospital. According to the report, the findings are exactly what the group wanted to hear.
Okay, so what did they find out?
“The Riverton area contains a sufficient population to support a financially viable rural health system with a range of medical, surgical, and specialty services.” – Stroudwater, Feasibility Study.
In other words, the project is still moving forward to include the following services:
- Swing bed
- Respiratory therapy
- Emergency department
- Rehabilitation services
- Imaging (radiology, ultrasound, CT scans, MRI)
- Attached medical office building with primary care and urgent care
Corte McGuffey, RMD organizer, went on to explain some of the stats this finding is based on, such as population, demographics, and market share. You can catch a video of the entire presentation here.
What’s Next? What are they working on now?
Location: The group is still weighing their options between the 8 acres donated by the REACH Foundation located on Sunset and the N. Federal property which offers some pretty major tax benefits.
Financing: The cost for a hospital of this nature will be about $35 million and they are currently researching a variety of options: Hospital revenue bonds (more costly), USDA Facilities Program, and bank financing.
Management: Quorum Health Resources has been selected to run the hospital. This is the same company that has been managing the hospital in Cody for 25 years.
Building: Erdman Construction specializes in medical buildings. You may have seen some of their work lately at the Westward Heights’ expansion.
- Ownership – Fiduciary Trust
- Collaboration and Partnerships with Wyoming hospitals
- Desire to partner with the tribes
- More money needed
Listen to the entire presentation at this link.