Parkland to Add 141 Beds, And All It'll Cost You Is $750 Million
At around 10:20 this morning -- sorry, trying to be more specific here -- the Parkland Board of Managers will finally thumbs-up their plan for a new Parkland Memorial Hospital, across Harry Hines Boulevard from the old one, as pictured above. The morning paper has a few details, but the more filling read is the full 238-page agenda prepared for the managers' meeting this a.m., which details how the $1.27 billion will be spent, from the increase in patient capacity (from 675 to 816 adult beds, though that total will be much larger once you add in newborn, natal intensive care unit and other inpatient services) to the price tag of the parking structure (at $42 million, it's just $8 million less than the cost of the new office complex).
It also details how the building will be paid for: for the most part, with two series of general obligation bonds totaling $733 million, for which the taxpayers will be on the hook. The rest will come from such sources as "philanthropy" and cash reserves. The agenda, which also includes Parkland's budget and revenue projections for true county hospital wonks, also notes: "The estimated $105 million for the clinic will not be paid for from bond proceeds, but will be constructed using available cash reserves when and as available." The Dallas County Commissioners will have to give the final A-OK before bonds are sold and dirt can fly. Should be funtastic.
While you're at it, do check out the Key Performance Report that begins on Page 42, where you'll discover that patients are staying longer than expected -- an average of 5.2 days -- while operating revenues for last month "were over budget by approximately $5.5M." Wait. Is this burying the lead? --Robert Wilonsky