At their meeting, Wednesday evening, the Riverton Medical District provided an update on the Riverton hospital project.
For a few months, the project seemed to be in a holding pattern as the group and interested/invested parties awaited the results of the feasibility study being performed by Stroudwater, an out-of-state specialty healthcare consulting firm. They announced at last night’s meeting that the preliminary statement from Stroudwater is that “Riverton is a viable healthcare market.”
Their initial assessment claims that “based on Greater Riverton area as primary market with 50% market share, providing comprehensive services, profit is projected at about $2 million per year.” *This assumes no competition from a full-service hospital with upwards of 150-200 employees.
The final report from Stroudwater is anticipated very soon. Taking into account all the data compiled on healthcare in Fremont County, this report also compares 4 unique scenarios and 4 facility models to determine the best fit for Riverton.
Above are images of the 4 facility models ranging from 24,000 sq ft ($14 million, minimal services) to the 69,000 sq ft ($48 million, coined the “Cadillac version” by attendees).
Next, Corte McGuffey, RMD organizer, answered the question, “Where do we go from here?”
McGuffey discussed the two land options the RMD is considering. One is the land donated by the Reach Foundation and another being land at the Shoshone Business Park. McGuffey discussed in length the “new market tax credits” and appealing financing options available for building on this site. Details and clarification can be found via their Facebook Live video, here.
Discussions are happening with a bond firm in Cheyenne, First Interstate Bank, and interviews with various hospital management companies who specialize in the day-to-day function of a hospital.
Other highlights from the evening:
- The bank account is shy of approx. $21k needed for the final payment of the feasibility study. Some of that might be spoken for by private investors have pledged $$’s upon official 501(c)3 status.
- Non-profit status was approved on April 26th.
- HB0001 bill passed with support from Senator Bebout and House Rep, Lloyd Larsen. Larsen clarified that there is “a footnote in the appropriation to address this issue.”
Overall, the sentiment rings positive among the group and it appears they are determined to move forward with the project, should the feasibility study come back as a “Yes.”
According to Cathy Cline, RMD organizer, they are expecting to receive the feasibility study in the next few days. RMD is shooting for monthly meetings, but the group promises to host a meeting as “big news” comes in. You can watch the event in its entirety below:
Catch more stories by County 10 on the Riverton Medical District, formerly known as “Save Our Riverton Hospital”: