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n e w h a v e n b i z . c o m | N o v e m b e r / D e c e m b e r 2 0 2 0 | n e w h a v e n B I Z 11 ON THE RECORD We use several approaches to attack and prevent airborne pathogens including: advanced filtration, bipolar ionization, or UV-C technology to prevent accumulation of contaminants. NEMSI's IAQ expertise can keep your facility environment cleaner, safer, and more energy-efficient. 860.871.1111 Toll Free: 800.741.6367 nemsi.com MECHANICAL | ELECTRICAL | PLUMBING | SHEET METAL | BUILDING AUTOMATION | FACILITIES SERVICES License #'s: E1-0125666 S1-302974 P1-203519 F1-10498 SM1-192 MC-1134 Indoor Air Quality is Paramount NEMSI helps keep YOUR facility cleaner and safer. How long do you predict it will take to recover? By the third quarter of this fiscal year, we are expecting we will be back to profitability across the system, and that is starting April 1. Are there any new revenue streams the hospital is considering in the months ahead? A big revenue stream we have embarked upon isn't one that frankly we are very excited about and that's COVID testing. We have been a regional leader in testing. We are seeing additional revenues from that. We also are seeing exceptional expenses. For instance, we don't get reimbursed when we test everybody who is coming in for a procedure that is required to have a COVID test. We are also testing outside folks who are paying so that is a new revenue stream. But largely, these are not new revenue streams, it is just ramping up to where our revenue was before the pandemic. The health system has been growing in recent years, including merging with hospitals like the Hospital of St. Raphael. Will this growth and expansion continue? Right now, we are focused on the entities we have. We have lost $450 million in this pandemic this past fiscal year. Luckily over $300 million was reimbursed — we had some benefit from the CARES Act. But we still had to make up the additional $150 million or so in losses. But the gap is actually larger because we were predicting to make $200 million. So that is a $350-million swing roughly in our cash position. So right now our goal is really to stabilize the entities that we have. We have added some homecare agencies recently to support the continuum of care, but right now we don't have any hospitals or health system additions on our radar. The new neuroscience center project has suffered delays due to the pandemic. What is the latest timeline? We are still going to be investing dollars into that project. It's just the speed at which we are going to be able to meet the schedule is going to slow down a little bit. It's probably a year to a two- year delay at this stage, but we are still in the midst of evaluating. Once that project is finished, how will it complement what the health system already offers? It is going to do a number of things, but we are actually looking at making some changes to it. One of the things that we are currently considering is making more negative pressure rooms in that pavilion so they are all private rooms to begin with, which will be a big difference for us. at from an infection control perspective is a big advantage. You don't have to worry about sharing a room with another patient. We are looking at ways to improve that project that makes it pandemic ready. We are looking to support the latest technologies that are available for the care of neurovascular conditions. ings like interventional radiology, where our neurosurgeons and radiologists can do high-end interventions that are minimally invasive using just needles that go through your arteries or veins to support the treatment of neurovascular disease. How will the pandemic change the business of health care in the short term and long term? In the short term, it is obviously focusing on the volume and ensuring that we can continue to deliver the best care possible for the patients. In the long term, the next level of our concern is contributing to the vaccine distribution that is going to be around the corner, when the FDA determines a vaccine is safe and reliable. Five years from now, what do you hope you will have accomplished? I hope to have continued to develop the relationship with the school of medicine, returned the system to financial health, completed the neuroscience center, improved the efficiency of the health system, invested in our facilities, and helped the health system grow. n " T h i s h a s p r o b a b l y b e e n o n e o f t h e m o s t c h a l l e n g i n g t i m e s f o r t h e h e a l t h s y s t e m . "

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