Vt. board approves hospital budgets
THE ASSOCIATED PRESS | October 04,2012
A Vermont board that reviews hospital budgets says spending for Vermont’s 14 hospitals for the next fiscal year is not on a sustainable path.
The Green Mountain Care Board said Tuesday that it approved budgets that will result in 5.1 percent increase in hospital net patient revenue for fiscal year 2013. The board had set a target increase of 3.75 percent.
Anya Rader Wallack, chairwoman of the Green Mountain Care Board, said the budgets reflect the board’s priorities in reducing costs and investing in health reforms but she said more work needs to be done.
“More hard work will be necessary to assure that our long-term cost trend matches our ability to pay, and to assure that costs are spread more fairly,” she said. She noted the impact of a cost-shift when Medicare and Medicaid do not cover the full costs for their enrollees, the expense shifts to insurance ratepayers.
Three hospitals exceeded the 3.75 percent limit, even after some exemptions.
Copley and Porter hospitals were told to reduce their budgets and Copley was ordered to make a better case for needing a new orthopedic surgery practice.