Case Study: Bethesda of Beresford improves bottom line and meets bond covenant with Wipfli

Eliminating inefficiencies and streamlining operational processes

Bethesda of Beresford, a skilled nursing home in Beresford, South Dakota, was dealing with declining reimbursement during a transitional period. Its bond covenant required a debt ratio of 1.1 or greater, but the ratio was below that level and the organization was losing money. Bethesda turned to Wipfli for help in addressing the situation.

Wipfli completed an operational review that covered the nursing home’s operational, financial, and clinical performance, then provided recommendations to improve Medicare reimbursement and efficiency. It also led Medicare MDS training, presented findings to management and the board, and delivered a written work plan and report to the bond trustee. Bethesda implemented several recommendations and saw immediate improvement to its bottom line, eliminated inefficiencies, streamlined operations, and increased its debt ratio to meet its bond covenant.

Bethesda of Beresford