The hospital and its nursing home were shut down by state officials in summer 2012 after failing to meet certain standards of care. The health center was in debt to local banks, maxed out on credit and going through money, according to the report. However, the hospital began accepting patients again in October 2012, and the nursing home reopened last year.
The state, community and local businesses worked to raise funds for Broadwater Health Center, and the center hired current CEO Kyle Hopstad in 2012, according to the report. Since Mr. Hopstad was hired, he has had preliminary discussions about a potential partnership with Billings (Mont.) Clinic, while reaching out to Bozeman (Mont.) Deaconess Hospital for help with fine-tuning revenue cycle aiding cash flow, the report reads.
Today, Broadwater Health Center earns $5.4 million in annual revenue, and collects $450,000 each month compared to $40,000 three years ago, according to the report.
