New Funds for staff education and recognition

In his latest blog post, Mike Nader announces that, in partnership with the Richmond Hospital Foundation, we have set up both an Education Fund and a Recognition Fund for staff and physicians in Richmond.

The Richmond Education Fund has been set up and will receive funding from the Foundation and their generous donors, as a way of “paying it forward” for the kindness and care they receive. A percentage of the funds we earn through Pay for Performance (P4P) revenue for achieving targets around patient flow and other measures will also be applied to this Fund. Thanks to the hard work of staff across our community of care, our P4P revenues are up this year. In addition to reinvesting these funds into operations, Mike believes it’s appropriate to reinvest some of these funds into education for those who have earned them.

The Recognition Fund will also receive funding from the Foundation, and will be used to cover the costs of our annual Service Anniversary event, a popular Richmond tradition held each spring to recognize those who have reached service milestones. Another event that will continue as a result of this new fund is our annual Staff Appreciation Day.

You can read more about these two new funds and when we can expect more details here. There’s also a touching video about another example of  “paying it forward” in healthcare.