Lewis Hospital Hopes Fewer Beds Will Make More Money
The Lewis County General Hospital board has taken action to fix their financial woes. The solution: fewer beds equals more money.
The hospital's board voted unanimously to have what's known as a critical-access designation.
That means the hospital will get higher reimbursement from Medicare and Medicaid, but the hospital can only have 25 patients at a time.
The board estimates they could save roughly $3 million over the next few years.
The hospital's CEO says the patients won't notice much of a difference.
"This will not be a diminishment of any services we currently provide," CEO Eric Burch said.
"If anything, it will give us capital to reinvest in the facility and the staff, so we're looking at this as a positive move," he said.
The board said the only drawback is if the hospital consistently has more than 25 patients.
The hospital currently averages 14 in-patients a day.
Thursday, May 23, 2013, Watertown, NY
On Wall Street