During a recent government meeting, significant discussions centered around the supplier diversity project and the ongoing disparity study, as presented by Miss Townes from the project management team. She emphasized the importance of periodic reports on preliminary findings and next steps, which will be shared with the governing body once confirmed with attorney Strong and his team.
The meeting also highlighted the progress of a major transformational project aimed at developing a new campus. The project management firm is already on board, and efforts are underway to select an owner agent who will collaborate with a local firm. The timeline includes the commencement of demolition of existing structures to pave the way for this new development.
In response to inquiries, Miss Townes provided insights into the fiscal year 2025 budget, which anticipates a 3% growth in patient volumes and a 5% increase in net revenue. She noted that the budget reflects a strategic focus on growth in specific services and cost reduction efforts, particularly in labor costs. The healthcare facility is also seeing a resurgence in services post-COVID, with a projected 20% growth in net revenue compared to the first year after the pandemic.
The discussions underscored the facility's commitment to adapting to demographic shifts and evolving healthcare needs within the community, all while maintaining a partnership with the University of Tennessee Health Sciences Center. The meeting concluded with a recognition of the complexities surrounding the replacement project, indicating ongoing dialogue about its implications and execution.