Winneshiek Medical Center will borrow $500,000 to help pay for an upgraded pharmacy

Posted: Tue, Oct 22, 2019 5:27 PM

Winneshiek Medical Center's pharmacy will soon be moving to a new location within the hospital.

The WMC Board of Trustees Tuesday evening approved borrowing $500,000 to help pay for the cost of the $757,400 project. The new pharmacy is needed in order to comply with the new standards of "USP 800," guidelines for a hospital's handling of drugs which must be implemented by the end of this year. The regulations set practice and quality standards for handling hazardous drugs in health care settings and help promote patient safety, worker safety, and environmental protection.

The new pharmacy will be located in the lower level of the hospital, not far from its current location. The estimated construction cost is $600,000, with a total project cost of $757,400.

Winneshiek Medical Center will raise $500,000 of the funds needed through two Rural Economic Development Loan Agreements--one with MiEnergy for $300,000, with a seven year payback at zero percent interest, the other with Allamakee-Clayton Electric Cooperative for $200,000, with a 10-year payback at 1.5 percent interest.

The new pharmacy will be a "significant upgrade" over the existing pharmacy and will bring Winneshiek Medical Center into complaince with the USP 800 guidelines.