Healthcare Expansion Capital Case Studies
Addressing the difficulty that so many communities face in providing quality healthcare is no small task, but there is hope for better financing options on the horizon. New initiatives, policies, and donors are finding ways to support underserved populations seeking better healthcare. Community Development Financial Institutions (CDFIs) continue to grow and innovate individually and as an industry in response to changes in the market. Importantly, they are succeeding during a time of decreasing subsidy available from government sources and financial institutions by finding new ways of using market-rate or near-market-rate capital, using off-balance-sheet financing, and establishing key partnerships to fuel this growth. Our achievements and client success stories are proof positive.
Since 1993, we’ve made an impact on health care facilities from coast to coast. By leveraging $1.1 billion in low-income communities, we’ve made 3.8 million primary care visits possible. This doesn’t just benefit patients — we’ve created and preserved 10,361 jobs along the way. We’ve prepared these professionals for longevity in their careers and communities by training 9,314 health care workers, making them more likely to provide excellent service and find satisfaction in their careers. Of the 2,800 clinics we’ve helped nationwide, each tells the story of a community made healthier.
Community Health and Wellness Center of Greater Torrington (CHWC) is no exception. In Connecticut, car accidents are no longer the leading cause of accidental death — drug and opioid overdoses have taken their place, becoming especially common in rural areas. In response, CHWC began a six-year partnership with PCDC. Thanks to a $2.5 million loan from PCDC, CHWC started an opioid treatment program that combines medication with counseling and behavioral therapies to prevent opioid overdose. CHWC hired new, highly trained staff, and made efforts to improve the other services that they provide, including primary care. As a result, CHWC saw visits increase by 26% percent from the previous year.
Connecticut’s largest Federally Qualified Health Center, Community Health Center, Inc. (CHC) made a significant investment in primary care this spring. With financing from PCDC, CHC completed a $47 million expansion on three of its facilities, making room for 16,000 new low-income patients.The expanded facilities can accommodate more than 48,000 annual patient visits each year, a whopping 43 percent increase. Located in a community where pediatric hospitalization rates are significantly higher than the national average, CHC is now the largest pediatric care provider between Boston and New York.
These are only a few examples of the many ways that, with sufficient funding and the right expertise, health centers can take a proactive approach to improving a community’s health overall. And these examples aren’t exceptional. Thanks to decades of experience, we have good reason to believe that we’ll see many more successes in the future.