(Friday, January 9, 2015 – Tamuning) - Guam Healthcare Development Inc. President and CEO Margaret Bengzon today thanked Governor Eddie Calvo for granting final approval to the Qualifying Certificate for the new Guam Regional Medical City [GRMC] hospital in Dededo.
Bengzon also expressed her gratitude to the Guam Attorney General's Office and the Guam Economic Development Authority for their thorough review of the QC application which provides benefits for both the hospital and the island community.
"GRMC is committed to serving the health care needs of the region and the QC will help support that goal," said Bengzon. And GRMC COO Gloria Long adds "We look forward to working together with other island health providers to improve the quality of health care for all."
Based on GEDA’s own estimates, the new hospital will generate $420 million in new tax revenues for GovGuam, more than double the $170 million dollar tax abatement that has been granted to the hospital over the next 20 years.
The QC requires GRMC to make $25 million dollars in public contributions staggered over the 20 year term of the QC. GRMC has recommended that a large portion of that amount be used to support Medicaid and MIP payments.
In addition the QC also requires GRMC to treat MIP patients. "We would take MIPs whether the QC required it or not," said Bengzon. "Equitable access to healthcare is a core element of our mission.”
Another $1.3 million will support the work of local artists. Each patient room at GMRC will display the work of an island artist.
GRMC will eventually employee up to 700 people, including new doctors and other specialists. Under the terms of the QC, 75% of all employees must be US citizens or Permanent Resident Aliens. In addition, many more support positions are being created by employers who are providing the hospital with supplies and fulfilling other service contracts.
The new hospital will also help keep more health care dollars on Guam that otherwise would be spent off island.
"But more important than all the economic benefits" said Long, "is the improvement to our quality of health and life."