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Hospital Budget Hearings Begin This Week

August 13, 2017

Dear Friends, 

This week begins the annual hospital budget presentations, an exercise in transparency that is entirely unique to our state. Earlier this month, Vermont’s 14 non-profit hospitals submitted budgets to the Green Mountain Care Board that project system-wide 3.6% net patient revenue growth, just over the 3.4% target set by the Board. The difference equates to $4.7 million or .19% of a $2.5 billion hospital health care system in Vermont.

These budgets reflect solid progress toward slowing the growth in health care costs while investing in meaningful health care reform efforts and managing ongoing uncertainty at the federal level.

The budgets tell the story of Vermont’s hospitals, no two of which are identical. Hospitals are grappling with the unique circumstances that inform and impact their financial situation, including health care utilization, payer mix, pharmaceutical costs, and community needs. As a system, hospitals collectively proposed a 2.4% price increase for FY18, a number near inflation and, very importantly, one of the lowest increases in 17 years.

Last week, I spent time reading through each of the hospital budget narratives. I was struck by the investments hospitals are making in the areas of mental health and substance abuse treatment, primary prevention, health care reform and care coordination.  Hospitals are working hand in hand with community partners to identify some of the most complex social issues facing our communities and together, working to find innovative ways to use our collective resources to provide the best care possible for Vermonters.

Over the next two weeks, hospitals will present their budgets before the Green Mountain Care Board in communities around the state. These hearings are open to the public and are a great way to learn what hospitals are doing within and outside the walls of the hospital. A schedule is provided below.

Vermont is making meaningful progress towards building and supporting healthier, stronger and more vibrant communities, and all of Vermont’s nonprofit hospitals are committed partners in those efforts.

I hope to see you this month at one of the GMCB hospital budget hearings. Thanks for all the hard work you do every day to serve Vermonters and our communities.

Sincerely,

 

Hospital Budget Hearing Schedule

Tuesday, August 15th at 9:00 am: Hospital Budget Hearing
Gifford Medical Center, Copley Hospital, North Country Hospital, and Northeastern Vermont Regional Hospital
Location: Capitol Plaza – 100 State Street, Montpelier, VT

Thursday, August 17th at 9:00 am: Hospital Budget Hearing
Rutland Regional Medical Center, Brattleboro Memorial Hospital, Southwestern Vermont, and Grace Cottage Hospital
Location: Jeffords Auditorium at Castleton University – 233 South Street, Castleton, VT

Tuesday, August 22nd at 9:00 am: Hospital Budget Hearing
UVM Medical Center, Central Vermont Medical Center, Porter Medical Center, and Northwestern Medical Center
Location: Main Street Landing – 60 Lake Street, Burlington, VT

Thursday, August 24th at 9:00 am: Hospital Budget Hearing
Mt. Ascutney Hospital & Health Center and Springfield Hospital
Location: Capitol Plaza – 100 State Street, Montpelier, VT