BLACKFOOT, Idaho – June 1, 2017 – On Thursday afternoon, representatives from Bingham Memorial Hospital (BMH, Inc.) presented the citizens of Bingham County with a check for $491,747. This is the latest payment that was received since the county entered into the Liquid Asset Transfer Agreement in 2007, when the hospital converted from a county-operated facility to a 501(c)3 non-profit corporation—BMH, Inc.
“Since 2007, BMH, Inc. has paid Bingham County more than $3.6 million in payments to the benefit of the citizens,” says Layne Van Orden, hospital board member and finance committee chair. “We are pleased to present this check, and I speak for everyone at the hospital when I say we are proud to give back to the community in this way.”
According to the agreement, BMH, Inc. manages the hospital’s operations and assets. Under the agreement, the county maintains ownership of all the property and hospital assets, which includes the land, buildings, and equipment. While for-profit medical facilities in Idaho send money to out-of-state shareholders, BMH, Inc. keeps it all within the local community.
Through sound capital investments BMH, Inc. has worked diligently to increase the county’s real property and capital assets, which has doubled in value from $38 million to more than $76 million since 2007. Last year, the original agreement was revisited and modified to more accurately reflect the increased value of county assets, grown under the direction of BMH, Inc.
Under the agreement, payment is setup as either a percentage of how much the hospital generates in net revenue, or a minimum payment of $400,000 per year—whichever is greater.
“One of the primary reasons the value of the properties has increased during the past 10 years is because of our increased attention to providing high quality and compassionate care and our investment in the latest technology,” says Jeff Daniels, CEO at BMH. “This has allowed us to offer more services to the residents of Eastern Idaho. And, most recently, this includes our growing, first-rate robotics program, bringing the highest caliber of surgical options to the region.”
In addition to the $491,747 to Bingham County, the non-profit hospital also contributes more than $2.8 million in community benefit each year through donations and sponsorships, health fairs, free health screenings and clinics, sports medicine coverage for area athletes, and other community involvement.
From delivering high-quality medical care to running vital programs in the community, BMH is driven by their commitment to support the health and well-being in and around Eastern Idaho by providing the most competent and compassionate care throughout the region. “Thank you to the citizens of Bingham County for trusting us with your healthcare and for choosing us when it comes time to making important decisions about your healthcare,” says Mr. Daniels.
Commissioners Ladd Carter and Mark Bair accepted the check on behalf of Bingham County. Representatives from the hospital Board of Directors included: Joe Cannon, chairman; Layne Van Orden, finance committee chair; and Wayne Brower, finance committee board member. Administrators from BMH in attendance were: Jeff Daniels, CEO and John Fullmer, CFO.
Pictured left to right: John Fullmer, CFO; T. Layne VanOrden, Board Treasurer; Jeff Daniels, CEO; Joseph Cannon, Board Chairman; Commissioner A. Ladd Carter; Commissioner Mark R. Bair; Wayne T. Brower, Board Vice-Chairman