Word: hospitalers
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The Health Alliance isn’t the only hospital system affected. Boston Medical Center will lose out on $64 million it had been expecting for care delivered to low-income Medicaid patients last fiscal year.
Just as the Harvard-affiliated Cambridge Health Alliance was solving its financial problems, Massachusetts slashed $40 million from the hospital system’s expected revenues.
The Health Alliance’s $40 million in cuts, when combined with other reductions in education and health care management, total almost $55 million—more than 10 percent of its budget. Together the two hospital systems will bear roughly 20 percent of the administration’s...
As part of the strategic planning process, the hospital system will close the Oliver Farnum Senior Health Center in December, said Health Alliance spokesman Doug M. Bailey. Over the next three months, the health center will transfer its roughly 100 patients to other clinics.
Instead of full reimbursement, the hospital system now receives 60 to 70 cents for each dollar of uncompensated medical service provided, according to its chief financial officer Gordon H. Boudrow, Jr.