Report questions financial security of Fletcher Allen

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A new report raises concerns about the fiscal health of Vermont’s largest hospital. The study of Fletcher Allen Health Care’s finances concludes that the hospital’s expansion project could drive up health insurance costs in Vermont.

But hospital officials say the report by Mercer Risk, Finance and Insurance is based on inaccurate assumptions. Interim CEO Ed Colodny says Mercer’s financial forecast is “unduly pessimistic.”

The state hired Mercer to review the Burlington hospital’s massive Renaissance Project, as regulators consider whether to approve a new permit for the project. Fletcher Allen is now seeking a permit for nearly $363 million.

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