(Host) The state’s Department of Banking, Insurance, Securities and Health Care Administration has approved budgets for all of Vermont’s hospitals.
BISHCA Commissioner Steve Kimbell says his department looks at all of the budgets collectively, and the annual system-wide increase came in below the 4 percent target that was set by the Legislature.
(Kimbell) "This was a remarkably good performance by our community hospitals in Vermont. They listened to what the Legislature had to say. They worked at it. And, aside from new taxes that they had no control over, they came in under the target."
(Host) Kimbell says those new taxes amounted to $16 million dollars in the provider tax that the hospitals are facing.
Certain other exemptions like converting to an electronic medical records system are not calculated in the hospitals’ budget increase.
And Kimbell warns that the target increase for the next budget cycle could be lower than this year.