On July 15th, Spring Valley Health Care Services, Inc. completed a transfer of ownership of Spring Valley Health and Rehabilitation Center to the Village of Spring Valley. In other words, the Village of Spring Valley purchased Spring Valley Health and Rehabilitation Center and it is now municipally owned.
Why was this transfer of ownership done?
As a non-profit organization and with numerous state and federal requirements changing over the past few years, it was becoming difficult to operate under the financial arrangements of 2010-11 when the building was constructed. The refinancing of loans was not feasible without transferring ownership of Spring Valley Health and Rehabilitation Center to another qualified non-profit entity. There were two goals in mind for the Spring Valley Health Care Services, Inc. Board of Directors while trying to solve the financial burden: remain open for our community and retain local management. Over the last several months, the SVHCS Board of Directors and Village of Spring Valley Board worked diligently to make this possible.
Will Spring Valley Health and Rehabilitation Center remain a non-profit?
Spring Valley Health Care Services, Inc. is a community based not-for-profit, tax-exempt charitable organization that will, as it has for the past 57 years, will continue to operate Spring Valley Health and Rehabilitation Center for the Village of Spring Valley and providing senior living and health care services to the citizens of the Spring Valley area.
What does the financial future look like?
The debt will be restructured as part of the new ownership. As a municipally owned organization, Spring Valley Health and Rehabilitation Center will be able to receive more funding from the Wisconsin Medical Assistance Program. The recently passed Wisconsin state budget will also bring welcome relief and a positive effect, especially for compassionate professional nurses, highly skilled para-professional caregivers, and dedicated technical support staff.
What about Valley Villas Assisted Living?
Valley Villas Assisted Living is licensed as an RCAC (Residential Care Apartment Complex) and will still be owned and operated by Spring Valley Health Care Services Inc. Valley Villas Assisted Living will continue to provide services as its own separate entity on the Spring Valley Senior Living and Health Care Campus.
What about long-time partners such as Midwest Physical Therapy and Spring Valley Drug?
Spring Valley Health Care Services, Inc. is very grateful for the partnership with both of these health care providers. We are fortunate and thankful for these specialists and all of the services they will continue to provide to our residents.
What will happen to current employees?
All employees will remain at the facility. A management agreement was put in place for Spring Valley Health Care Services, Inc. to continue to manage and employee the current staff.
Is there adequate staffing?
Absolutely, quality resident care is our top-priority and we employee the best staff available to provide exceptional care and services to our residents. We are continually growing and developing our team of professional and para-professional caregivers. We are actively engaged to assure our staff meets the needs of the community and have the resources available to excel and reach our goal of exceeding expectations.
What will change for residents?
Residents will not notice any changes. Their daily routine, cares, and lives will continue as normal. The only changes will include business processes and reporting that neither residents nor staff persons will probably be aware of or even notice. The same staff that residents have come to know will remain the same.