CHARLOTTESVILLE, Virginia — The University of Virginia Medical Center's CEO says provisions of the federal health care law could cost the hospital hundreds of millions of dollars over the next decade.
Chief executive officer R. Edward Howell tells The Daily Progress (http://bit.ly/16VHBIX ) that a reduction in Medicare reimbursements could cost the hospital $140 million by 2020. He says much of the money is used to pay for recent medical school graduates' residencies.
Howell says the hospital also will lose $40 million annually if Virginia doesn't expand its Medicaid program.
Hospitals that take care of a disproportionately high number of uninsured people are currently reimbursed by the federal government.
Howell says he's working with the Virginia Hospital & Healthcare Association to find new revenue sources.
Information from: The Daily Progress, http://www.dailyprogress.com