Vermont hospital budgets increase 3.8 percent, down from five-year average

By in , , , , , , , , , , ,
No comments

first_imgfor provider Patient Central Vermont Hospital 4,0% D BUD 12 Net provider tax & Gifford Memorial 1,0% North Country Hospital 5,2% Brattleboro Memorial 0,9% Grace Cottage $1,281,525 Mt Ascutney Hospital -3,0% Patient Revenue Copley Hospital 4,8% Central Vermont Hospital $7,434,697 Northwestern Medical Ctr 6,8% B System 3,8% Increase adj for Rutland Regional Medical Ctr 4,7% Grace Cottage 7,1% Grace Cottage 7,1% Rutland Regional Medical Ctr $10,392,423 Copley Hospital 7,1% Vermont hospital budgets will increase by a system-wide total of 3.8 percent for fiscal year 2012 beginning October 1, 2011, after excluding this year’s increased taxes on hospitals, according to individual hospital budgets approved today by Banking, Insurance, Securities and Health Care Administration Commissioner Steve Kimbell. ‘Compared to the average annual system-wide increase of 7.2 percent over the span of the past five years, the rate of increase is definitely moving in the right direction,’ said Kimbell. Budgeted increases ranged from $1,193,974 for Gifford Hospital to $43,324,991 for Fletcher Allen. Meanwhile, Mt Ascutney Hospital’s budget shows a decrease of  -$1,465,403. The approved system-wide rate increase last year was 5.44 percent.Information about individual hospital budgets is below. Also included are the FY 2012 and 2011 budgets.Kimbell noted that the government payers are bearing their fair share of the increase this year. ‘One of the ways to reduce pressure on commercial health insurance premiums and bring fairness to the system is to reduce the cost shift growth that historically has been the result of underpayment by government programs.’ The system wide increase of 3.8 percent was achieved without using several exclusions, other than new taxes, allowed by the 2009 legislation that created a 4% target for increased hospital revenues for the upcoming budget year. For example, if the cost of existing physician practices acquired by hospitals is excluded, the system wide increase is 2.7 percent. Kimbell noted that that this is the last year for the budget process that has been in use since 1983.  The newly appointed Green Mountain Care Board is charged with revamping that process.  Changes likely will include standardization of some budget components among hospitals and movement toward a global budget for the system. Information about individual hospital budgets is attached. FY 2012 Budget Submissions A tax Increase in $ Northeast VI, Regional 1,4% Copley Hospital $3,536,882 Northeast VI, Regional 2,1% Mt Ascutney Hospital -3,4% The increase is measured against FY 2011 approved budget levels, Revenue Copley Hospital 6,0% Mt Ascutney Hospital -4,4% System as growth since the services were provided outside the hospital budget in the prior year, North Country Hospital 3,9% Southwestern VI, Medical Ctr $5,830,545 Brattleboro Memorial 6,6% Column C reflects the increase if the provider tax increase is not counted, Northwestern Medical Ctr 5,8% Physician Acq Fletcher Allen Health Care $43,324,991 Grace Cottage 7,6% Rutland Regional Medical Ctr 1,9% Northeast VI, Regional $1,272,808 Southwestern VI, Medical Ctr 4,4% Porter Hospital 1,6% Springfield Hospital $1,584,030 Springfield Hospital 3,0% BUD 12 Net Porter Hospital 4,2% Increase adj BUD 12 Net Northeast VI, Regional 1,4% C Central Vermont Hospital 2,4% Porter Hospital $3,084,292 Porter Hospital 4,9% Column B reflects the total requested net patient revenue increase, Fletcher Allen Health Care 3,2% North Country Hospital $4,493,465 Rutland Regional Medical Ctr 5,5% Fletcher Allen Health Care 3,9% System 2,7% Gifford Memorial 1,0% Mt Ascutney Hospital -$1,465,403 Gifford Memorial 1,9% Net Patient Southwestern VI, Medical Ctr 3,7% Notes: Southwestern VI, Medical Ctr 3,2% Brattleboro Memorial $4,134,377 Central Vermont Hospital 5,0% Increase $91,257,495 System 4,6% Springfield Hospital 2,2% Northwestern Medical Ctr 3,7% Northwestern Medical Ctr $5,158,889 North Country Hospital 6,0% Patient Revenue BUD12 Springfield Hospital 2,2% Gifford Memorial $1,193,974 Fletcher Allen Health Care 4,7% Brattleboro Memorial 5,6% Column D reflects the increase without including physician service increases, Those are not considered Revenue last_img

Leave a Reply

Your email address will not be published. Required fields are marked *