State regulators stand their ground on hospital budgets
VTDigger
Regulators voted Wednesday not to change their expectations for the revenue side of the states’ hospital budgets for fiscal year 2024, despite sustained and ongoing cost increases that led to big reported operating losses in 2022.
The five members of the Green Mountain Care Board unanimously denied a request by the Vermont Association of Hospitals and Health Systems to either adjust the target revenue growth rate upfront or waive its enforcement.
The board reviews each of the 14 hospitals’ budgets annually in a process that begins with a submission due June 30 for the coming fiscal year. Exceeding the revenue target is allowed but opens up the hospital’s budgetary choices to greater scrutiny.