State Hospitals Could Lose Millions of Dollars
Colorado hospitals stand to lose millions of dollars because of the sequester. That loss could trickle down to the patients and hit you in the pocket book. The sequester cuts down on Medicare payments and other health related needs starting in April.
Possible outcomes include higher costs, longer wait times, and fewer vaccinations for children because of the 2-percent cut.
The Colorado Hospital Association said the cut translates to a loss of 35-million dollars to state hospitals in the first year.
Centura Health hospitals, like Penrose in Colorado Springs, will lose between $40-thousand to more than $1.4 million dollars a year if the cuts remain.
In a statement Memorial Hospital officials said:
“We are concerned about sequestration and the significant financial impact it could pose for Memorial Hospital. It is too early to tell exactly what these cuts will mean for patients, but every dollar lost is a dollar that could have supported patient care. We are committed, however, to ensuring that we provide the highest quality care as effectively and efficiently as possible with the resources we receive, no matter how challenging that may be or become.”
Penrose and Memorial Hospital officials both said it's too soon to say how patients will be affected. They will know more in April.
The cuts will impact hospitals statewide.
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