Here are five things to know about MetroHealth’s budget cut and facility plans.
1. Cuyahoga County has approved a 2016 budget that includes $32.4 million for MetroHealth, $7.6 million less than what the county provided in 2015.
2. At the same time, Cuyahoga County has agreed to help find a way to finance up to $1 billion by the end of 2016 for a new hospital, according to the report. The health system has been working with the county on upgrading its main campus.
3. MetroHealth CEO Akram Boutros, MD, said the health system plans to set aside $30 million in 2016 and each subsequent year for the transformation plan, according to the report. Still, MetroHealth will need the county subsidy for the transformation, even if it doesn’t need it for operations, Dr. Boutros added.
4. Moving forward, the health system is “confident that with the focus on partnership from the county executive and county council we will determine the right path for the county to invest in its health system,” Dr. Boutros said, according to the report.
5. MetroHealth hopes for financing to be completed by the end of 2016.
More articles on healthcare finance:
Safety issues could cost Texas hospital Medicare/Medicaid funding: 4 things to know
OIG audit finds Boca Raton Regional was overpaid $2.6M: 5 things to know
Fitch assigns ‘AA-‘ rating to Cedars-Sinai Medical Center’s bonds
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.