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.
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.
Presenters: James Germano, MD, Joint Reconstruction SpecialistTim Tzimas, Innovative Sterilization Technologies
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