Expenses driving up hospital spending
Addison Independent
Porter Medical Center (PMC) officials are seeking state approval of a fiscal year 2024 budget that projects $140 million in expenses, reflecting a $23 million increase compared to the $117 million originally budgeted for FY’23.
Porter Chief Financial Officer Scott Comeau said PMC’s budget proposal — which will soon be reviewed by the Green Mountain Care Board (GMCB) — doesn’t call for any new healthcare programs for patients. PMC includes the county hospital, Helen Porter Rehabilitation & Nursing and approximately a dozen affiliated medical practices.
“We’ve filled out our physician complement a bit with recruitment, but overall, our budget is very conservative and in line with the (patient) volumes we’re seeing today,” Comeau said during a Monday interview.
The GMBC will review a Porter budget that proposes:
• A 6.86% bump in commercial insurance rates. Hospitals have an opportunity to negotiate commercial rates with insurers — and that’s where healthcare cost-shift can play out, Comeau noted.