Indiana Hospital CEO Tells Businesses They’re Subsidizing Medicaid, Medicare Shortfalls

Craig Kinyon, CEO of 228-bed Reid Hospital in Richmond, Ind., told a chamber of commerce meeting that businesses and other private payors are spending millions to subsidize Medicare and Medicaid shortfalls, according to a report by the Palladium-Item.

Advertisement

Mr. Kinyon said Medicare pays about 39 percent and Medicaid pays 21 percent of charges, while commercial insurers pay 91 percent.

Reid Hospital raised its rates by 6.6 percent for this year, predicting that the Medicaid-Medicare shortfall would cause a $218 million budget shortfall for the hospital this year.

Read the Palladium-Item’s report on Reid Hospital.

 

Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit

Advertisement

Next Up in Compensation Issues

Advertisement

Comments are closed.