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1515 East Ocean Avenue

Lompoc, CA 93436

The ER entrance is at the north end of the building, accessible from 7th street.

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Finance Committee Agenda


Lompoc Valley Medical Center


Tuesday, March 27, 2012

12:00 Noon

Board Room



Introductory Note: The acronym “I/D/A” next to an agenda item indicates whether or not the item is

a subject for information, discussion, action, or any combination of those options.


Call to Order I/D/A


Roll Call I/D/A


Review of Prior Meeting Minutes

The minutes for the February Finance Committee meeting are included for review and comment. I/D/A


Pre-Audit Financial Reports for the Period Ended February 29, 2012

  • Patient Volume Statistics and Graphs.    I/D/A
  • Statistical Summary.   I/D/A
  • Acute and CCC Financial Reports.    I/D/A
  • ATB Graphs/Cash Graphs.    I/D/A
  • Financial Ratio Reports.   I/D/A
  • Surplus Equipment to be approved.   I/D/A


IGTs Update

  • AB 113 FY12 IGT approval.  Agreements signed and “seed” money to State at the end of March, 2012.   I/D/A
  • SB90 IGT – Final Agreements received, signed and mailed.  “Seed” money = $140,725.  I/D/A

Expected to net $185,631.

increased to $2,979,525.00 plus $595,905 State Fees with expected net return of $3,746, 000.  I/D/A

  • LVMC FY’11 IGT through Cen Cal Health  - Documents have been submitted.  Amount of “seed” funds 


Chemical Dependency Rehabilitation (CDRH) Facility

  • Preliminary Application resubmitted to Cal Mortgage in March.   I/D/A

Additional data submitted to Camden Group for Feasibility Study.  Target study completion end of March.  I/D/A


Capital Expenditures

  • None.    I/D/A       

Current Report on Medicare RAC Audits of LVMC Charts and Claims

  • Additional take backs from last report equal $47,000.    I/D/A
  • LVMC enrolled as one of demonstration group to submit outpatient portion of inpatient take backs.  I/D/A


Contractual Negotiations

  • Blue Cross:  Agreement reached March 9, 2012 on a two-year amendment from 4/1/12 – 3/31/14.   I/D/A
  • Blue Shield:  Two proposals have been exchanged from each party.  We submitted latest.  Far apart.  I/D/A
  • Cigna:  We have requested CIGNA to submit the first offer.  Dialogue but no proposal received yet.   I/D/A
  • Health Net:  Termination Letter with intent to negotiate sent February 13, 2012.  On hold right now.    I/D/A



directors scheduled for the first week in April.  Testing of data continuing.  I/D/A


  • Medicare payments and 5010 platform – Medicare better other plans lagging now.   I/D/A
  • Medi-Cal has withholding full payments except for CCC due to state cash shortage. I/D/A
  • Policy & Procedure for determining Chief Executive Officer compensation.  I/D/A
  • Implementation of Insights Financial Monitoring system moving ahead.  Most data in, training for 
  • Insights Financial Monitoring/Budgeting System Demonstration.   I/D/A



Date Posted:  March 23, 2012