Year End Review
Dear Friends,
This past year marked one of the most exciting improvements for Coastside Family Medical Centers (CFMC), and I am proud to be a part of an organization that is at the forefront in bringing quality healthcare to all our coastal region patients, especially those who face cultural, language, and financial barriers.
Several changes have taken place to position CFMC to become financially sound and to ensure the continued viability of our community clinic:
- CFMC has been averaging an 8 percent increase in new patients every month this year. This is a result of streamlining front- and back-office procedures to improve patient flow and customer satisfaction.
- CFMC received a grant in the amount of $1,322,942 from Stanford Hospital & Clinics, in the form of forgiveness of the Center’s outstanding rent obligation.
- The Development Department raised over $185,000 in grants from community, corporate, and family foundations. We also secured a 3-year $300,000 grant from the Wellness Foundation to assist with operational needs.
- Over $30,000 was raised at our second annual holiday fundraiser, Ritzy Trees.
- We instituted a major upgrade to our technology infrastructure, resulting in improved functionality of workstations and staff, along with improved security of patient information.
- The Director of Operations renegotiated rates with several insurance companies which resulted in higher reimbursement rates for billed charges.
- Accounts Payables were reduced by 30 to 40 percent.
- CFMC completed its first financial audit since its founding as a nonprofit organization.
- A Collection Associate position was established in the billing office to enssure timely billings and faster reimbursements
None of these changes would have been possible without our hard-working medical providers and staff, our dedicated board of directors and last, but not least, the generous support of community members like you. Thank you!
Robert V. Harless, MBA
Chief Executive Officer
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