Cordell Memorial Hospital Market Research Report

Background

Overview

Cordell Memorial Hospital (CMH) is a 25-bed Critical Access Hospital located in Cordell, Oklahoma. Established in 1989, CMH has been dedicated to providing exceptional healthcare services to the local community and surrounding areas. The hospital offers a comprehensive range of services, including emergency care, surgical procedures, imaging, laboratory diagnostics, rehabilitation therapies, and a primary care clinic. CMH is committed to delivering compassionate and personalized care to patients of all ages.

Mission and Vision

Mission: To provide knowledgeable and excellent healthcare, dedicated to the health and wellness of the community.

Vision: To be the healthcare team of choice for western Oklahoma through outstanding care and compassion for all.

Industry Significance

As a Critical Access Hospital, CMH plays a vital role in delivering essential healthcare services to rural communities, ensuring access to quality care for populations that might otherwise face challenges in obtaining medical attention.

Key Strategic Focus

Core Objectives

Enhance patient care quality and safety.

Expand service offerings to meet community health needs.

Integrate advanced medical technologies to improve healthcare delivery.

Areas of Specialization

Emergency care services.

Surgical procedures.

Imaging and laboratory diagnostics.

Rehabilitation therapies.

Primary care services.

Key Technologies Utilized

Telemedicine services, including tele-hospitalist programs.

Advanced imaging technologies.

Laboratory diagnostic equipment.

Primary Markets Targeted

Residents of Cordell and surrounding communities in western Oklahoma.

Rural populations requiring access to comprehensive healthcare services.

Financials and Funding

Funding History

Specific details regarding CMH's funding history, total funds raised, and recent funding rounds are not publicly disclosed. As a Critical Access Hospital, CMH receives funding through Medicare and other federal programs designed to support rural healthcare facilities.

Notable Investors

As a public hospital, CMH does not have private investors. Funding is primarily sourced from government programs, patient revenues, and community support.

Utilization of Capital

Capital is utilized for:

Maintaining and upgrading medical equipment.

Expanding and enhancing healthcare services.

Improving facility infrastructure.

Pipeline Development

As a healthcare provider, CMH focuses on expanding and enhancing its service offerings rather than developing a product pipeline. Recent initiatives include:

Implementing telemedicine services to improve access to specialty care.

Expanding rehabilitation therapy programs.

Enhancing emergency care capabilities.

Technological Platform and Innovation

Proprietary Technologies

CMH has implemented telemedicine services, including tele-hospitalist programs, to provide remote consultations and specialty care to patients in rural areas.

Significant Scientific Methods

Utilization of telemedicine for remote patient monitoring and consultations.

Advanced imaging and diagnostic techniques.

Leadership Team

Key Executives

Melinda Laird – Chief Executive Officer (CEO) and Chief Nursing Officer (CNO). Ms. Laird has been instrumental in implementing telemedicine services and expanding healthcare offerings at CMH.

Leadership Changes

Specific details regarding recent leadership changes at CMH are not publicly disclosed.

Competitor Profile

Market Insights and Dynamics

The healthcare market in western Oklahoma is characterized by a need for accessible and comprehensive medical services in rural areas. Critical Access Hospitals like CMH are essential in meeting these needs, often facing challenges related to funding, staffing, and maintaining service quality.

Competitor Analysis

CMH's primary competitors include other Critical Access Hospitals in the region, such as:

Roger Mills Memorial Hospital – Located in Cheyenne, Oklahoma, with 15 beds and a net income of $3,567,179, achieving an overall profit margin of 47.0% in 2012.

Harper County Community Hospital – Located in Buffalo, Oklahoma, with 25 beds and a net income of $453,382, achieving an overall profit margin of 10.8% in 2012.

Strategic Collaborations and Partnerships

CMH has an affiliate relationship with SSM Health, allowing for collaborative efforts in meeting the healthcare needs of the community. This partnership facilitates access to specialty physicians and advanced medical resources.

Operational Insights

CMH differentiates itself through its commitment to personalized care, integration of telemedicine services, and focus on community health. These factors contribute to its competitive advantage in the region.

Strategic Opportunities and Future Directions

CMH is well-positioned to expand its telemedicine services, enhance rehabilitation programs, and improve emergency care capabilities to meet the evolving healthcare needs of its community.