MONTPELIER, Vt. (AP) — Vermont’s nonprofit hospitals, which are facing financial challenges because of the coronavirus pandemic, have filed budget requests with the Green Mountain Care Board for the coming fiscal year.
The hospitals are asking regulators for increases in charges to achieve operating margins that range between zero and 2.5%.
“Each of our hospitals has a unique story to tell but collectively, this request is about ensuring all of them can continue to be there – and ready to care – every minute of every day,” said Jeff Tieman, President and CEO of the Vermont Association of Hospitals and Health Systems. He said in less than three months, hospitals lost $221 million, and “even with federal grant dollars of just over $134 million, they lost ground on many fronts in the current fiscal year.”
Tieman said, “we must prioritize recovery.”
Public hearings on the hospital budgets are scheduled to start on Aug. 18.