According to the report, downward pressure on federal and state reimbursements and proposed reductions from commercial payors hindered an agreement on a financial model for the partnership.
Valley General has faced financial issues recently. According to the report, declining reimbursement rates for Medicare are expected to cost the hospital $2.3 million in revenue for 2012, and state changes may cost it $800,000. Additionally, charity care and bad debt cost Valley General $8.3 million in 2011.
Valley General is actively pursuing discussions with other hospital systems, according to the report.
More Articles on Valley General Hospital:
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Washington’s Valley General Exploring Partnerships With Four Hospitals
