Our mission is one of building, celebrating, striving, and thriving. We face adversity in unison with tenacity, patience, and good humor in order to grow the more beautiful community we know is possible. Today, we look forward to the future, approaching new horizons in healthcare while taking forward that same spirit of dreaming to create a beautiful tomorrow we all believe is possible.
The commitment to nurturing a growing Mesa County continues to inspire us today. As we look forward to the future and new horizons in healthcare, we take forward the spirit of dreaming, to build the more beautiful future we believe is possible. As part of the Family Health West (FHW) health system, more than 30 clinics and a number of unique programs are available to you and your loved ones when you need us most.
Healthcare always feels a bit hurried and rushed. Coming out of the COVID-19 pandemic seemed to make the pace feel even more increased. Family Health West continued meeting the healthcare needs of our community head on. We continued expanding Primary Care, improved community access to Behavioral Health services, and opened an Urgent Care. While some things changed, a few stayed the same. Family Health West proudly served over 32,000 meals to patients and staff, setting a new record. As our services lines grow with our community, it often feels like it can be measured in food! Speaking of food, our outpatient therapy added a new “FEES” camera that allows the therapist to watch a patient swallow in real time, providing valuable diagnostic and treatment feedback, improving the quality of care and patient safety. I am thankful for the continued partnership with our selfless employees, loyal patients, dedicated board members, generous donors and exceptional volunteers that help our local hospital thrive. These partnerships formed Family Health West, and keep us here today…and tomorrow. I wish you good health! However, if you should need healthcare, I hope you choose Family Health West Hospital, Clinics, and Memory Care Assisted Living.
Together we flourish.
The mission of the FHW Foundation is simple: Make things better for patients. That could mean providing cutting-edge equipment, improving the overall environment, or ensuring medical needs are met in our community. We strive to make a meaningful impact—whatever that might look like. If you would like to learn more, or contribute to our mission, click below.
and Subsidiaries Statement of Operations for the fiscal years ended:
December 31, 2023 and 2022
2023 2022
AMOUNT WE BILLED & EARNED Services billed for Inpatients | $ 29,598,137 | $ 29,378,479 |
Services billed for Outpatients | 109,774,817 | 106,331,363 |
Services billed for Providers | 27,746,081 | 22,320,340 |
Total Gross Operating Revenue | 167,119,035 | 158,030,182 |
AMOUNT NOT FULLY PAID FOR OUR SERVICES Not paid by those unwilling or unable to pay | (1,325,407) | (1,170,355) |
Not paid by Medicare and Medicaid | (55,325,080) | (53,432,449) |
Not paid by other payers | (32,039,633) | (30,943,580) |
Total Deductions From Revenue | (88,690,120) | (85,546,384) |
Receipts for patients in Healthcare Reform system | 1,509,607 | 1,448,246 |
Receipts from State, net of payments made to State: related to the proportion of under/uninsured patients | 1,929,667 | 2,162,558 |
Receipts for COVID relief | – | 474,000 |
Other Operating Revenues | 777,003 | 516,032 |
TOTAL OPERATING REVENUES | 82,645,192 | 77,084,634 |
AMOUNT WE PAID TO PROVIDE SERVICES Salaries and Benefits for our 589 employees | 48,754,148 | 46,088,682 |
Supplies and Services we Purchase | 24,666,661 | 25,285,668 |
Utilities, Leases, and Rentals | 1,921,489 | 1,904,771 |
Interest on outstanding debt | 2,278,658 | 2,354,678 |
Wear and tear on building and equipment | 2,774,229 | 2,650,628 |
Total Expenses Paid | 80,395,185 | 78,284,427 |
Income (loss) from Operations | 2,250,007 | (1,199,793) |
NONOPERATING REVENUES(EXPENSES) Receipts from Contributions and Grants | 4,568,267 | 866,566 |
Interest income earned | 633,508 | 49,247 |
Accounting recognition of disposal of equipment; at a loss | (72,167) | (186,491) |
Other | 236,379 | – |
Total Nonoperating Revenue/(Expense) | 5,365,987 | 729,322 |
TOTAL NET REVENUE (LOSS) | $ 7,615,994 | $ (470,471) |
LOWER VALLEY HOSPITAL ASSOCIATION d/b/a Family Health West
and Subsidiaries Balance Sheet
As of: December 31, 2023 and 2022
2023 2022
ACCOUNTS PAYABLE AND ACCRUED EXPENSES | $ 3,275,809 | $ 2,234,555 |
CURRENT PORTION OF LONG TERM DEBT & LEASES | 1,676,750 | 1,767,498 |
ACCRUED SALARIES AND WAGES | 3,213,584 | 3,350,672 |
OTHER CURRENT LIABILITIES | 1,026,000 | 1,045,437 |
DEFERRED REVENUE | 0 | 0 |
THIRD PARTY SETTLEMENTS | 4,780,726 | 1,786,377 |
CURRENT LIABILITIES | 13,972,869 | 10,184,539 |
LONG TERM DEBT | 38,624,178 | 39,887,664 |
LONG TERM LEASE LIABILITIES | 357,433 | 633,664 |
OTHER NON CURRENT LIABILITIES | 1,022,363 | 697,811 |
TOTAL LIABILITIES | 53,976,842 | 51,403,678 |
WITHOUT DONOR RESTRICTIONS | 17,602,233 | |
WITH DONOR RESTRICTIONS NET ASSETS | 1,520,776 | 11,507,015 |
19,123,009 | 11,507,015 | |
LIABILITIES AND NET ASSETS | $ 73,099,851 | $ 62,910,693 |
ASSETS
CASH and CASH EQUIVALENTS | $ 16,539,914 | $ 18,273,834 |
ASSETS LIMITED AS TO USE | 1,841,804 | 1,632,651 |
SHORT-TERM INVESTMENTS | 6,212,085 | |
ACCOUNTS RECEIVABLE, NET | 12,820,893 | 8,960,165 |
SUPPLIES, PREPAIDS, OTHER CURRENT | 4,907,409 | 3,727,843 |
CURRENT ASSETS | 42,322,105 | 32,594,493 |
ASSETS LIMITED AS TO USE | 3,836,238 | 3,511,694 |
PROPERTY AND EQUIPMENT, NET | 24,632,865 | 24,076,994 |
OTHER ASSETS | 2,308,643 | 2,727,512 |
ASSETS | $ 73,099,851 | $ 62,910,693 |
LIABILITIES AND NET ASSETS
Service to the Community
2023 | 2022 | |
Acute days | 833 | 744 |
Swing bed days | 4,962 | 5,236 |
Observation stays | 241 | 199 |
Memory Care days | 5,359 | 6,576 |
Operating Room Procedures | 1,263 | 1,298 |
Emergency Room visits | 5,418 | 5,602 |
Radiology Exams | 18,075 | 17,647 |
Laboratory Tests | 86,627 | 82,912 |
Primary care visits | 32,825 | 32,614 |
At Family Health West, we take our name very seriously. Keeping western Colorado’s families healthy and thriving informs everything we do. Every year, our stories paint a picture of our values as healthcare providers and the paths we choose as valued members of the community.
Chartis Center for Rural Health Recognizes FHW For Performance Leadership; The Colorado Sun Recognizes FHW Rehabilitative Therapy Program
Treating life-altering pain with long-term solutions isn’t a mythical dream, it’s what we do here at Family Health West (FHW).
We would like to recognize our dedicated 2023 board of directors. Each year our board helps guide and grow Family Health West. Thank you for all your hard work!
