August 25, 2008
Bridgeport, Texas Hospital Built By Community, for Community, Slated to Open This Week
The town of Bridgeport, Texas, located northwest of Dallas/Fort Worth, has award-winning schools, booming industry and a growing population, but no hospital - until later this week anyway, when Doctors' Hospital will open its doors for business for the very first time. The new hospital, a 36-bed facility that will provide state-of-the-art medical and general surgical care, obstetrics and emergency services, and the latest in radiology, is the brainchild of Bridgeport native Dr. David Ray, who initiated a community-wide effort to finance, build and, ultimately, open Doctors' Hospital.
"After 16 years of unsuccessfully aligning various groups, corporations and organizations, in 2002, 10 physicians and one CRNA came together to form a group that relentlessly moved forward with the plans for Doctors' Hospital," said Dr. Ray.The group's first step toward a new hospital for Bridgeport was to recruit Texas native Paul Owens to serve as the hospital's CEO. Next, the group arranged for financing, hired an architect and began construction. But, then, funding for the facility fell through.
In an effort to resolve their funding issues, Dr. Ray and his associates contacted Alan Richman, president and CEO of InnoVative Capital, a financial advisory firm. The group also brought in QHR, one of the nation's leading management and healthcare consulting companies, to help with hospital development.
"QHR came on board in 2005 and they have performed to our high expectations," said Dr. Ray. "They have provided financial information, assisted in obtaining certifications, assisted us in evaluating our operations and gave us invaluable help in obtaining third-party contracts.
"Through QHR's Ken Venuto and Eric Jones, Doctors' Hospital has been well served," he added.
QHR began its work with Doctors' Hospital with a demand analysis - reviewing patient mix, demographics and physician availability. This information, coupled with a feasibility study conducted by a CPA firm, indicated that the hospital could be successful and inspired the public to rally around the cause. The Bridgeport Economic Development Corporation provided a grant to assist the hospital in purchasing land in Bridgeport. The City of Bridgeport pledged assets to assist the hospital in obtaining a $3 million line of credit. The State of Texas pledged $750,000 in matching funds to build access roads. A seven-member board of community supporters was formed. And a foundation pledged $1 million to the project.
Alan Richman then leveraged his financial expertise to negotiate financing terms and QHR began its work in assisting with pre-opening operations and will later assume additional management responsibilities at Doctors' Hospital.
"This project has been a tremendous collaborative effort from the very start. Dr. Ray's vision was so clear - a hospital for the community, built by the community," said Kenneth Venuto, a vice president at QHR. "This hospital is going to mean great things for Bridgeport. What an amazing project for QHR to have been a part of."
"It's been a long, winding road for those of us who've contributed to this effort, but, now, standing before this amazing new facility, I know it was worth every step," said Owens. "We've built something we can be proud of...something the people of Bridgeport can be proud of. And we couldn't have done it without all of the physician founders, QHR and InnoVative Capital."
Doctors' Hospital At-A-Glance
19.1 acre site served by new Doctors' Hospital Drive and B. E. Hawkins Drive
99,852 square foot hospital
37,998 square foot medical office building
30 medical/surgical patient beds
4 intensive care patient beds
2 obstetrics patient beds and a full-term nursery
3 surgery suites
-- General Radiology - 2 rooms
-- Ultrasound - 1 room
-- Magnetic Resonance Imaging - 1 room
-- C.T. Scan - 1 room
Dietary services & cafeteria
Physician office building
-- Physical therapy
-- Outpatient retail pharmacy
-- Family practice physicians (2)
-- General surgery physicians (2)
-- Sleep lab (1)
-- Timeshare physician suite
QHR is a family of brands that has provided consulting, management and education resources to hospitals and health systems for three decades. QHR Management Services is the dominant market leader in hospital management resources, with nearly 170 current multi-year clients across the United States. QHR Consulting Services is among the 15 largest healthcare management consulting firms in the United States, with more than 150 consultants providing financial, operational and strategic support to hospitals. Each year, the QHR Learning Institute trains more than 8,000 healthcare professionals to achieve business goals by improving their leadership and management capabilities. For more information, go to www.qhr.com.