Sequestration means cuts to hospitals
The stalemate in Washington D.C. is causing deep concern among Wisconsin hospitals as they face the loss of millions of dollars in Medicare payments if sequestration kicks in Friday. Tomah Memorial Hospital CEO Phil Stuart says, “it appears that hospitals are to be the target of more cuts.” Stuart, a member of the Wisconsin Hospital Association, said hospitals across the state, including Tomah Memorial, are operating in what could be described as an environment of financial uncertainty. He said, “as Medicare reductions keep mounting and uncompensated care levels continue to grow, hospital expense reduction will take a toll on health care employment, future capital spending, and subsidized community programs.” Over the next ten years, the Wisconsin Hospital Association estimates that sequestration will cost hospitals here one-billion dollars in Medicare payments if the required 2-percent across-the-board cuts mandated by Congress takes effect.
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