Vermont hospital struggles to recover from bankruptcy

Springfield (Vt.) Hospital continues to face financial hardship after exiting Chapter 11 bankruptcy in December 2020, according to the Valley News.

The hospital's operational expenses are still outpacing revenues, according to filings with Vermont's Green Mountain Care Board cited by the Valley News. Factors such as the COVID-19 pandemic, reduced visits and bankruptcy recovery are contributing to the pressure.

The hospital anticipates a negative operating margin of $3.4 million for the current fiscal year that ends Sept. 30. It's an improvement from previous years; Springfield Hospital ended the 2020 fiscal year with a $5.3 million negative operating margin and 2019 with a $9 million negative operating margin.

Copyright © 2022 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Featured Whitepapers

Featured Webinars