New Vital Equipment at Winchester District Memorial Hospital - Thanks to Generous WDMH Foundation Donors!

submitted by Jane Adams

Because of our generous donors, every patient room at Winchester District Memorial Hospital (WDMH) will have a new vital piece of equipment – a Welch Allyn Vital Signs Monitor.

The vital sign monitors will result in safer care and more time for patient care. When a nurse takes a patient’s blood pressure or other vitals such as heart rate or temperature, the information will flow directly into the patient’s electronic health record from the machine. There is no need to write things down to enter into the system later. This process saves time and improves accuracy.

In November, WDMH will be launching the Epic health information system. The vital sign monitors are a key part of the new technology. With Epic, patients will get better access to their own health information and more seamless care from their providers. The system will securely store, organize and access patient records while maintaining patient privacy.

“A huge thank you to everyone who supported this important initiative. Because of our community’s incredible generosity, we were able to fund this project very quickly,” notes WDMH Foundation Managing Director Kristen Casselman. “The timing worked out very well since WDMH is launching the Epic project in November.” income you have two basic options. One – find ways to increase your income. Two – find ways to reduce your expenses.

The total cost of 70 monitors: $482,632.75!

Step three is to budget funds for the month to include a sinking fund and an emergency fund. Regular monthly expenses should be allocated monthly. The extra lump sum expenses throughout the year should be allocated using a sinking fund. A sinking fund is an account you save into every month until major expenses arrive. For example, for 10 months of the year you could set aside 50/m so that in November and December you have a pot of $500 that can be spent on Christmas. Property taxes is another great example. You know roughly what your tax will be annually and that it comes due at certain times of the year. Take your 2021 tax bill and divide it by 12. Start setting aside this amount immediately so that when the next bill comes due you have the cash available.

In addition, building an emergency fund will provide a safety net for all your regular expenses in case of an unexpected illness or layoff that impacts your pay cheque. Ideally an emergency fund should hold enough to cover three months of expenses.

Step three is to revise your budget as you go forward. Update your expenses to show the impact of inflation. As credit card debt and line of credits are paid off, build in new goals such as saving for retirement or for a vacation. Celebrate when you transition from credit card debt to a flush sinking fund and emergency fund.

Budgeting is not meant to be simple. It is a process of getting your cashflow in line so that you can enjoy life within your means. A trusted financial advisor can sit with you to build and review a budget.

We welcome questions so please reach out! See our ad in this week’s North Dundas Times and follow us on Facebook @OFarrellWealth.

Sarah Chisholm is a Financial Advisor with Assante Capital Management Ltd. The opinions expressed are those of the author and not necessarily those of Assante Capital Management Ltd. Please contact her at 613.258.1997 or visit ofarrellwealth.com to discuss your circumstances prior to acting on the information above. Assante Capital Management Ltd. is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada.