The UVM Medical Center network lost money in the fourth quarter of 2019, after also losing money in the 2019 fiscal year. Blaming national trends, it plans to take “important steps” to stop spending millions more than it's taking in.
“These local challenges are occurring against a backdrop of rural hospital closures across the country. A national survey showed that 120 rural hospitals in 31 states have closed since 2010. A 2019 study found that one in five rural hospitals were at high risk of closing unless their financial situation improved. In Vermont, more than half of Vermont’s non-profit hospitals had negative operating margins in fiscal year 2018, and expenses were growing faster than revenues statewide.
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