Terry Collins feels confident he is leaving Aspen Valley Hospital in strong financial shape.
Collins, the hospital’s chief financial officer since December 2004, retired from his post Tuesday, turning over the fiscal reins to associate CFO Ginette Sebenaler.
“The board asked me to find someone who can take my place,” Collins said Monday, “and fortunately we have Ginette in house. She’s very bright and very talented.”
Collins, 69, leaves the 25-bed critical access facility at a time when two of the first three phases of its redevelopment are complete. The third one, which includes a rooftop helipad and a separate entrance for ambulance patients, among other improvements, will be finished by the end of the year.
The first three phases carried a price tag of $150 million — $62 million came from hospital reserves, $50 million from general obligation bonds, and another $38 million through private donations — and happened under the financial management of Collins.
Starting the fourth phase of construction, estimated to cost another $11 million, remains contingent on raising additional funds, he said. That phase would include a chapel, additional medical office space and an expanded registration/admissions area.
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Collins’ departure also comes when the dynamics of health care are constantly shifting.
While the hospital’s outpatients once comprised 65 percent of all admissions, that number now is 80 percent, with the remaining 20 percent being overnight patients, he said.
“In general, the insurance companies, Medicare and Medicaid are encouraging health care providers to do things on an outpatient basis,” he said, adding that medical…
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