Regional Medical Center at Memphis (Tenn.) has proposed a 2012 budget that includes $20 million for capital improvements of the current facility and $40 million for construction of a replacement hospital, according to a Commercial Appeal report.
The $20 million in capital improvements includes $8.8 million for information technology upgrades, $7.4 million for improvements to the hospital's buildings, $2.1 million for equipment and supplies related to patient care and funds for support services, parking, security and ambulatory services. The hospital's long-term plan, however, is to build a replacement facility.
The budget estimates more than $1.1 billion in gross patient revenue for fiscal year 2012 and about $4.2 million in funds after paying bills, caring for patients who cannot pay and receiving $40.5 million from Tennessee's Shelby County, the state of Tennessee and TennCare. The budget also projects $50 million in reserves by the end of this month, which would be added to the $40 million the hospital would set aside for a new hospital.
The full board will vote on the budget plan on June 16.
Read the Commercial Appeal report on Regional Medical Center at Memphis' budget plan.
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The $20 million in capital improvements includes $8.8 million for information technology upgrades, $7.4 million for improvements to the hospital's buildings, $2.1 million for equipment and supplies related to patient care and funds for support services, parking, security and ambulatory services. The hospital's long-term plan, however, is to build a replacement facility.
The budget estimates more than $1.1 billion in gross patient revenue for fiscal year 2012 and about $4.2 million in funds after paying bills, caring for patients who cannot pay and receiving $40.5 million from Tennessee's Shelby County, the state of Tennessee and TennCare. The budget also projects $50 million in reserves by the end of this month, which would be added to the $40 million the hospital would set aside for a new hospital.
The full board will vote on the budget plan on June 16.
Read the Commercial Appeal report on Regional Medical Center at Memphis' budget plan.
Related Articles on Hospital Finance and Business News:
California's Marin General Hospital Partners With County to Improve Maternity Care
AHA Urges CMS to Include Additional Patient Characteristics in its Hospital Readmissions Program
New Hampshire's Alice Peck Day Memorial Receives CON for Renovations