Washington community hospital could see financial boost with state budget proviso

Aberdeen, Wash.-based Grays Harbor Community Hospital revealed it is one step closer to being a financially sound organization after receiving a budget proviso from state officials.

The hospital, which made the announcement via news release March 8, said the proviso will allow Grays Harbor to receive 150 percent of the Medicaid fee schedule until June 30, 2019. Officials estimate this could result in up to $4 million in additional monies for the hospital.

Provisos are typically line items inserted into state budgets. However, they only provide temporary funding. Grays Harbor said it will continue legislative efforts to make the funding permanent.

The hospital will also continue its other financial improvement efforts. Grays Harbor said these efforts include working with Navigant consulting firm to bring in subject matter experts to help implement Grays Harbor's goals; a rural health clinic project go-live scheduled for April 16, 2018, which is designed to allow the hospital to receive cost-based reimbursement for primary care; and restructuring hospital debt and refinancing its loan with Key Bank.

 

 

More articles on healthcare finance:
Good Samaritan Hospital receives $21M gift from Berkshire Hathaway chairman
Moody's: Nonprofit hospital rating downgrades rose sharply in 2017
Disney pledges $100M to enhance the patient experience at children's hospitals

© Copyright ASC COMMUNICATIONS 2021. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.