Greenville Health System OKs $2.3B budget

Greenville (S.C.) Health System passed its largest budget to date at $2.3 billion for 2017, The Greenville News reports.

Here are eight things to know about the budget.

1. Effective Oct. 1, the budget shows a 1 percent profit margin and no rate increases.

2. The budget includes 124 hires, 65 of which will be physicians, nurses and clinical support staff, according to GHS CFO Terri Newsom.

3. Ten million dollars for constructing GHS Medical Center in Boiling Springs, S.C., was approved. The facility is part of GHS' $40 million expansion into South Carolina's Spartanburg County, according to the report. 

4. Funding was allocated for transitioning low-risk obstetrics to Patewood Memorial Hospital in Greenville and adding four operating rooms at the facility.

5. The budget reflects GHS' Epic implementation and expansion.

6.  In 2017 GHS will apportion $80 million to a community fund, according to the article. Over the course of 20 years, $4 million per year will be used for health-related care, research and education in Greenville County.

7. A separate budget was approved for GHS' Upstate Affiliate Organization, with $1 million allocated toward UAO expenses and $3.7 million for GHS police and an elderly program. 

8. GHS said earlier this year it was operating at a $16 million deficit. The hospital aims to be out of the deficit by the end of 2016, according to the report.    

More articles about healthcare finance:
Broward Health faces bond trouble over KPMG breakup
Riverside University Medical Center taps collection, billing agency
OIG: Vermont owes CMS $10.5M for botched ACA grants

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