Projecting Millions in Losses, Vermont's Largest Hospitals Ask for Rate Increases
By
Colin Flanders
Posted on
March 18, 2022 at 5:31PM
Vermont hospitals received tens of millions of dollars in state and federal COVID relief funding over the last two years, and a review of budget documents shows all three of those projecting shortfalls have more than enough in their reserves to cover this year's losses. The UVM Medical Center, for example, entered the fiscal year with a $1.2 billion fund balance that would allow it to remain open for about 184 days without taking in a single dollar. That marker of financial stability, known as "cash on hand," has since fallen to about 154 days but still represents many multitudes more than the looming budget deficit.