Brattleboro Memorial Hospital is actively pursuing measures to enhance its financial standing. During a recent meeting with the Green Mountain Care Board, hospital officials laid out their plans.

The acting interim co-CEO conveyed the seriousness of the hospital’s $14.5 million deficit and emphasized the importance of maintaining emergency services and patient care, while also managing a daily caseload of over 300 outpatient visits. The hospital has served the local community for more than 120 years and is considered integral to both healthcare and economic stability in the area.

A consultant recently appointed as interim chief financial officer mentioned that a transformation grant from the Vermont Agency of Human Services would be utilized to evaluate the hospital’s capabilities in meeting community healthcare needs and analyzing current market conditions. Meanwhile, financial advisors are working on refining the current revenue collection processes, which have lagged behind the hospital’s requirements.

To further reduce expenses, initiatives amounting to approximately $2 million have been proposed, including the restructuring of leadership roles, creating a nurse float pool to minimize reliance on traveling nurses and overtime, and adopting AI technology to replace remote scribes, leading to substantial savings. Additionally, outdated IT systems are being phased out.

Engagement with staff members across various departments has been prioritized, with leadership encouraging input on ways to enhance patient and staff experiences, lower costs, and explore new revenue streams. Discussions conducted with hospital personnel have generated numerous innovative ideas aimed at addressing the financial challenges faced.

The negotiations with the nurses’ union, which had stalled after the contract expired on September 30, resumed after adjustments to the budget. However, the hospital’s recent proposals were met with disappointment from the union, and both parties may be heading towards mediation.

The hospital has also noted a recent uptick in the rate of missed appointments, prompting efforts to address this through technology enhancements and increased communication. By reducing missed appointments, the hospital aims to improve patient access and support revenue growth.

Looking ahead, there are challenges in staffing, particularly in the obstetrics department, with two obstetricians set to retire and another leaving. The hospital has experienced a decline of over 100 annual deliveries in the past ten years, resulting in a strained workforce. Without hiring an oncologist by April, hospital leadership may have to reconsider the viability of its oncology services.

Efforts are also underway to secure grants to support ongoing programs. Local lawmakers have been approached regarding potential exemptions for the hospital from Act 55, which limits billing for outpatient prescription drugs. Hospital leaders suspect that errors in statistical reporting may have hindered their eligibility for the 340B Drug Pricing Program, which could greatly benefit the hospital financially.

Regulators acknowledged the hospital’s new leadership for their commitment to tackling these financial difficulties, commending the substantial cost reductions achieved without compromising service access.