Vermont regulators have rejected a 10% mid-year rate increase for two hospitals

Vermont regulators have rejected a 10% mid-year rate increase for two hospitals, including the state’s largest, that administrators sought to cover what they called historic inflationary pressures. Regulators instead approved much smaller increases for the University of Vermont Medical Center in Burlington and Central Vermont Medical Center in Berlin. The Green Mountain Care Board approved a rate increase of 2.5% for the UVM Medical Center and 2.7% for Central Vermont in a 3-2 vote on Friday. Brumsted, president and CEO of the UVM Health Network, said the reduced rate hikes will not cover the medical system’s expenses. UVM Health Network says inflation has pushed up prices on everything from medicine to surgical equipment while the ongoing labor shortage has hospitals paying higher wages to traveling nurses and full-time staff. 

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https://www.cvmc.org/about-cvmc/newsroom/2018/uvm-health-network-central-vermont-medical-center-named-2018-top-20-rural