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home : community : features June 25, 2016

8/7/2014 3:00:00 PM
Did You Know?

The Howard Young Foundation proudly supports a fiscally-sound not-for-profit charitable hospital system that embraces a mission of providing the highest degree of compassionate care to all patients, regardless of their ability to pay. 

Unlike for-profit hospitals that distribute excess earnings to shareholders, not-for-profit hospitals such as Howard Young Medical Center (HYMC) and Eagle River Memorial Hospital (ERMH) reinvest all earnings into patient care through programs, equipment, technology enhancements and upgrades, facility improvements and services. 

The communities served, their residents and our visitors are the shareholders who reap the benefits of earnings reinvestment back into our hospitals.

Hospitals across the nation are facing the unprecedented challenges of decreasing Medicare and Medicaid reimbursements in the face of rising costs to deliver care. 

These issues are worse in the Northwoods where 71 percent of our patients are covered by Medicare and Medicaid which pay 37 and 31 cents on the dollar. 

Add to that challenge the number of patients we treat regardless of their ability to pay for their care and we are faced with 75 percent of patients treated unable to cover the full cost of their care.

Philanthropic gifts are the defining difference in keeping health care in the Northwoods. Not only does it ensure the long-term survival of our hospitals, but also the quality of our facilities, the skill and expertise of our physicians and staff and the overall quality of care provided. 

As the largest employer in the northwoods, the two hospitals reinvest millions of dollars back into the communities served through salaries and other locally purchased services. They are a major driving force in our economy.

Strong philanthropic programs are necessary for our hospitals to thrive now and in the future. While independent financial contributions provide equipment, service and technology needs, such programs are also vital to help guarantee the level of clinical excellence needed to attract and retain the highest caliber physicians and health care workers. 

The Howard Young Foundation strongly supports the initiative to move forward on the journey to excellence as it relates to advancing health care in the Northwoods. About two years ago, the Foundation began a Special Gift Initiative to raise $30 million to transform and sustain health care right here where we live, work and play. Ministry Health Care has very generously agreed to provide $30 million in matching grants as well.

More than $10 million in leadership gifts and pledges has been raised from thoughtful and caring community members who believe in the mission and vision of securing the future of health care for generations to come. All funds pledged become immediately available for use in meeting the most pressing needs at HYMC and ERMH. 

The notion of keeping as many health care services as local as we possibly can is vital for us, our families, our friends and visitors to the Northwoods. Three major local projects have already been funded by the Special Gift Initiative – the da Vinci Robotic Surgical System, the Ministry Spirit Transportation Services helicopter hangar and the Cardiac Center at HYMC, scheduled to open this fall.

“This is a unique opportunity for all community members and visitors who love the Northwoods to create a lasting legacy,” Trig Solberg, HYF board chairman, said. 

“We see extraordinary opportunities to make changes in health care that positions Ministry Howard Young Health Care to meet current and future needs in our area. Philanthropy is the catalyst that can make that happen.”

Now, it is time to join this generation of health care philanthropists and support the Howard Young Foundation and its efforts to ensure excellence in the years ahead. 

We would be honored to meet with you in person at our office in the Clock Tower Centre in downtown Minocqua at 420 Oneida St. You may also contact us by calling 715-439-4005 or accessing our website at www.howardyoungfoundation.org.

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