The Vermont Department of Banking and Insurance says it’s likely that the overall growth rate for hospital expenditures will decline for the fourth year in a row.
The hospitals will formally submit their proposed budgets to the state on July 1st and the goal is to limit growth to 4 percent. This represents a significant decline from 10 years ago when the growth rate was nearly 10 percent a year.
VTDigger first reported on the slowdown in budget increases on Monday.
VPR’s Neal Charnoff spoke with Bea Grause, president of the Vermont Hospitals and Health Care Association, who says that the slow economy is one reason for the decline in hospital spending.