Potential Medicaid Cuts
By Jen Christensen : WEEK-TV
Healthcare providers in Illinois could face even more financial challenges now that Governor Pat Quinn is proposing a big cut to state medicaid reimbursements.
Lawmakers are considering an annual six-percent cut for nursing homes and other long term care facilities. Governor Pat Quinn's said, "HFS's proposed budget for FY 2012 calls for achieving a savings of $552 million through a six percent rate reduction for most health care providers. These steps are needed to help stabilize our budget while jump starting the economy and creating jobs."
Methodist Medical Center President Michael Bryant says state cuts--in addition to the federal medicare cuts--could be detrimental to some providers.
He says under the current federal healthcare reform plan--hospitals will lose around 70 million dollars over a 10 year period in medicare reimbursement.
President and C.E.O. of Methodist Medical Center, Michael Bryant said, "We get paid, in methodist's case-less than 40% of cost. This would be another 6% of that. that's a sizeable number. Everywhere you go right now, the providers are taking hits, whether it's nursing homes, hospitals, etc.It's certainly going to be challenging as we go forward."
We talked to all three Peoria hospitals today about potential reimbursement cuts.
Federal cuts make up the biggest potential loss to providers.
That's because Medicare patients make up about 40-percent of Methodist and OSF patients and about 60-percent of Proctor patients.