The prediction is based on Medicare payment cuts that will outweigh additional expected revenue from the newly insured over the next 10 years. Jewish Hospital and St. Mary’s HealthCare, both in Louisville, Ky., cut 500 positions this year, and Greenview Regional Hospital in Bowling Green, Ky., is cutting costs and deferring nonemergency spending on projects.
Financial losses will mean lower wages and salaries for hospital employees, less direct and indirect spending in Kentucky communities and delays on construction projects.
Read the KHA report on Kentucky hospitals’ economic impact (pdf).
Read more on hospital finances.
–Citations May Force Closure of Idaho’s Harms Memorial Hospital
–Bond Rating for Kentucky’s Jewish Hospital & St. Mary’s Downgraded Again
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