Readmissions Roundup: How Much Will Medicare Penalties Cost Individual Hospitals?
Terry Lynam, vice president of public relations at North Shore-Long Island Jewish Health System based in Manhasset, N.Y., told Becker's Hospital Review that North Shore University Hospital would see a penalty of about $1.8 million in Medicare reimbursements, one of the higher amounts because North Shore received the maximum penalty of 1 percent.
Several academic medical centers were also hit with above-average penalties. Michael Rutherford, CFO of Ohio State University's Wexner Medical Center in Columbus, told The Columbus Dispatch the hospital received a 0.64 percent cut to Medicare payments, which is roughly $700,000. Vanderbilt University Medical Center will lose up to $1 million from its 0.62 percent cut, according to a Nashville Business Journal report.
Other hospitals, big and small, throughout the country will also see hits to their Medicare revenue:
• Eleven Florida Hospital campuses will swallow a cumulative penalty of roughly $4.47 million, according to an Orlando Business Journal report. The 84-bed St. Cloud (Fla.) Regional Medical Center will lose $62,341.
• The seven community hospitals within Minneapolis-based Fairview Health Services are expected to lose a cumulative total of $100,000, according to a Minnesota Public Radio report.
• The seven hospitals within Austin, Texas-based Seton Healthcare Family are expecting losses of up to $575,000 in fiscal year 201, according to an Austin Statesman report.
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