Hospital proposes 2.65% rate increase for 2020 budget
RUTLAND, Vt. (AP) — Officials at Vermont’s Rutland Regional Medical Center have asked the state’s health care regulators for a rate increase average of 2.65% for the coming year.
Administrators from the Rutland hospital presented the proposed 2020 budget to the Green Mountain Care Board on Monday. The hospital was granted a 2.6% increase last year.
The rate increase is necessary to keep up with rising drug and labor costs, Hospital president Claudio Fort said.
“We have great quality here. We have really good access to health care for the community,” Fort said. “But the cost is the big challenge, for us and for other hospitals, and trying to keep that rate increase to consumers and local businesses that provide health care insurance down.”
The increase would lead to $4 million in savings from a combination of staffing and supply reductions, Hospital Chief Financial Officer Judi Fox said. Some of those reductions are already in effect.
Some services would cost more while the price of MRIs and CT scans would go down, the Rutland Herald reported .
The Rutland hospital’s rate increase request comes as hospitals across the state are in the process of budgeting for next year. The Green Mountain Care Board reviews the budgets with an eye toward controlling costs.
Fort said the public shouldn’t worry about the future of the Rutland hospital.
“We are one of the strongest hospitals financially in Vermont,” Fort said. “We have a strong balance sheet. I think we have a long history of good stewardship.”
Information from: Rutland Herald, http://www.rutlandherald.com/