Green Mountain Care Board releases annual review of 2025 budget submissions
WCAX
The Green Mountain Care Board has reached a conclusion in their budget review for fiscal year 2025.
Overall, GMCB approved $3.7 billion in hospital spending for next year.
GMCB approved all 14 budgets but made cuts to their original proposals. Across the board, hospitals asked for an 8% increase, but state regulators trimmed the hospitals’ requests, approving a 4.1% system-wide increase.
In a press release, regulators describe a goal for balance between keeping costs down for Vermonters and financially supporting hospitals amid growing financial strain.
“These budget decisions require Vermont hospitals to focus on population health—to keep patients healthier and out of hospitals—and to constrain costs at a time when many hospitals face significant financial challenges. This will not be easy, particularly given our underlying demographics and housing shortages that must be urgently addressed. Our healthcare costs and these decisions highlight the need and opportunity for systemic change that will provide Vermonters with an affordable and sustainable hospital and health system,” said said Owen Foster, Chair of the Green Mountain Care Board.