Vermont's 2nd-largest hospital seeks 17.8% rate increase

Rutland Regional Medical Center, Vermont's second-largest hospital, is asking the state's healthcare cost regulator to allow it to increase charges on commercial insurers by an average of 17.8 percent in fiscal year 2023, VTDigger reported July 6. 

The independent community hospital proposed a $313.9 million budget for the next fiscal year, a $43.6 million increase from the current fiscal year, according to the report. 

Claudio Fort, Rutland's president and CEO, said Vermont hospitals are facing mounting pressure from inflation and staffing shortages, according to the report. Rutland is facing a projected $25 million deficit in fiscal year 2023, including a $12 million loss from operations. 

"Our budget and rate request reflect the need to stabilize our financial situation and ensure that our community continues to have access to these critical healthcare services," Mr. Fort said, according to the report. 

Rutland's request comes days after the University of Vermont Health Network asked regulators to approve a 19.9 percent commercial rate increase for fiscal year 2023 to cover the cost of inflation. 

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