UVM Medical Center and Central Vermont Medical Center Mid-Year Budget Adjustment Requests
More revenue is needed to cover the increased cost to both hospitals for providing the care that Vermonters count on.
Burlington, Vt. – The Green Mountain Care Board’s decisions on mid-year budget adjustment requests from the University of Vermont Medical Center and Central Vermont Medical Center, after multiple years of denying hospitals the budget increases necessary to ensure access to services and invest in facilities, have put at risk major portions of Vermont’s not-for-profit, community-based health care safety net. UVM Medical Center and CVMC took the extraordinary step to ask the Board for a mid-year budget adjustment, and did not do so lightly. Health care providers have the responsibility for caring for all Vermonters, and are not immune to the inflationary pressures that we know are also impacting businesses and families. These pressures have prompted cost saving efforts at UVMMC and CVMC, but cost savings alone will not bridge the gap. More revenue is needed to cover the increased cost to both hospitals for providing the care that Vermonters count on. We are one of only two states in the nation where such a revenue increase requires state approval.
We will review the impact of today’s decision and determine where we can further reduce costs or programs to live within the Board’s imposed limits.
After proudly playing a vital role in the state’s COVID-19 response, we have set out to maintain and improve access to care for our growing and aging population; support the most vulnerable patients in our region, especially those in need of critical mental health care; and continue striving to be an innovative academic health system with high quality care and modern facilities. If we cannot cover the expenses of running UVMMC and CVMC, those efforts are all at risk.
About The University of Vermont Health Network
The University of Vermont Health Network is an integrated system serving the residents of Vermont and northern New York with a shared mission: working together, we improve people’s lives. The partners are:
- The University of Vermont Medical Center
- The University of Vermont Health Network Medical Group
- The University of Vermont Health Network – Alice Hyde Medical Center
- The University of Vermont Health Network – Central Vermont Medical Center
- The University of Vermont Health Network – Champlain Valley Physicians Hospital
- The University of Vermont Health Network – Elizabethtown Community Hospital
- The University of Vermont Health Network – Porter Medical Center
- The University of Vermont Health Network – Home Health & Hospice
Our 4,000 health care professionals are driven to provide high-quality, cost-efficient care as close to home as possible. Strengthened by our academic connection to the University of Vermont, each of our affiliates remains committed to its local community by providing compassionate, personal care shaped by the latest medical advances and delivered by highly skilled experts.