Facing financial struggle, Vermont hospitals ask for revenue growth, rate hikes

Vermont’s 14 hospitals are asking the state to allow their patient revenues to grow at a higher rate than recommended by regulators.

If the Green Mountain Care Board, which regulates health care spending in Vermont, approves the budgets as submitted by hospitals this year, the medical centers would take in $118 million more in fiscal year 2020 than they expect to take in this year.

The budgets represent a 4.5% growth in revenue compared to budgets approved by the care board last year. The board asked hospitals to cap revenue growth at 3.5% in a March guidance.

Overall, the proposed budgets show hospitals across the state are expecting $2.73 billion in net patient revenue next year. Net patient revenue is revenue from patient care before expenses are figured in.

Read more: https://vtdigger.org/2019/08/14/facing-financial-struggle-vermont-hospitals-ask-for-revenue-growth-rate-hikes/