Wednesday, October 27, 2010
CAMC Board Approves New Budget
WEST VIRGINIA....
In 2011, Charleston Area Medical Center expects to lose $11.5 million to Medicare and its pharmaceutical expenses will increase almost $6million. The CAMC Board of Directors has approved the 2011 budget which includes four noticeable cuts, The hospital plans to cut $10 million in labor costs by not filling vacancies and adjusting employee schedules. The hospital will also look at current contracts to see if there are cheaper brands they can use for medical supplies, such as gloves, robes and caps. At the end of September, the hospital was $10 million in the black, but the hospital is projected to be $20 mllion in the black by the end of 2010, $6 million under the projected current budget. Officials say their goal is to find $40 million in additional profits by the end of 2011, allowing the hospital to reach its goal of being $20 million in the black.
In 2011, Charleston Area Medical Center expects to lose $11.5 million to Medicare and its pharmaceutical expenses will increase almost $6million. The CAMC Board of Directors has approved the 2011 budget which includes four noticeable cuts, The hospital plans to cut $10 million in labor costs by not filling vacancies and adjusting employee schedules. The hospital will also look at current contracts to see if there are cheaper brands they can use for medical supplies, such as gloves, robes and caps. At the end of September, the hospital was $10 million in the black, but the hospital is projected to be $20 mllion in the black by the end of 2010, $6 million under the projected current budget. Officials say their goal is to find $40 million in additional profits by the end of 2011, allowing the hospital to reach its goal of being $20 million in the black.
# posted by Homer Owens @ 3:20 PM 
