FREQUENTLY ASKED QUESTIONS
Why is the project necessary?
As the healthcare environment and models for care delivery change, Riverwood is committed to making improvements that incorporate the latest medical technology and ensure the best possible care for area residents.
In recent years, Riverwood has experienced an increase in patient visits and a broader array of healthcare needs. With retirees choosing to make their home among Aitkin County's lakes and woods, the age group of 65 and older is expected to see an increase of 10 percent from 2009-2014. And because healthcare needs increase with age, older persons are much higher users of both inpatient and outpatient services than the general population. In order to meet the growing demand for healthcare services close to home, facility expansion and renovation is needed.
Why are single patient rooms needed?
When our new healthcare campus was built in 2001, semi-private patient rooms were the standard of care. Today, studies show that patients who have private rooms are more comfortable, have a heightened sense of wellbeing, and recover faster. Additionally, the existing semi-private design limits our hospital capacity. Often, due to infection control or patient pairing issues, we are only able to fill 60 percent of our available beds. Expanding the hospital will enable us to fill all our hospital beds, avoiding the need to send patients away for care at other facilities.
What is the construction timeline?
We will begin construction and renovation in May 2011 and anticipate the project will be completed by Fall 2012.
What does the project cost and why are private funds needed?
The total project cost is approximately $21 million, the majority of which has been secured through public sources and construction loans. Riverwood Foundation is committed to raising at least $2.2 million from the community to reduce the need for long-term financing and to proceed in a financially sound manner. A public-private partnership of this nature is an increasingly common strategy to make healthcare improvement projects a reality. We are well poised to take on this challenge because of local residents historic generosity and strong support for Riverwood Healthcare Center.
What type of donor recognition is available?
Gifts of all sizes are important and gratefully accepted. A complete roster of donors to the Better Together Campaign will be included on the Riverwood website and in Foundation publications. Donors of $1,000 or more will be included on a permanent donor recognition display in the renovated facility.
Shared naming opportunities are available for gifts of $10,000 and sole naming opportunities are available for gifts of $25,000 and up.
How will the project benefit the local economy?
Riverwood Healthcare Center is a major catalyst for the local economy, providing 347 full and part-time jobs with salaries totaling over $18 million annually and annual operating expenditures of $43 million. We anticipate this expansion project will add at least 18 full-time positions within the next four years and will provide 130 new construction jobs with a payroll of approximately $6 million over 17 months. Riverwood is committed to using local contractors for as much of the project as possible.
What is the Otto Bremer challenge grant and how will it impact my gift?
The Otto Bremer Foundation has awarded a generous challenge grant to match all donations to the Better Together Capital Campaign dollar-for-dollar up to $300,000. Riverwood Foundation has set a goal of securing the full grant by October 15, the date of the annual Riverwood Gala. Be sure to make your gift soon to double your money and help meet the challenge!