Charleston (W.Va.) Area Medical Center's revenues are down roughly $6.5 million compared with last year, and Larry Hudson, the hospital's CFO, attributes the decline to the slow economy, Medicare's Part D prescription drug coverage program and advances in medical technology, according to a Charleston Daily Mail report.
High hospital or physician bills might deter patients from seeking treatment in the current slow economy, Mr. Hudson said in the report. The Part D drug program is also a more affordable alternative for patients who would rather take prescription drugs than be admitted to the hospital.
Additionally, the hospital's new health information technology, such as a 64-slice CT scan, has made healthcare cheaper but has taken away from revenue, the report said.
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High hospital or physician bills might deter patients from seeking treatment in the current slow economy, Mr. Hudson said in the report. The Part D drug program is also a more affordable alternative for patients who would rather take prescription drugs than be admitted to the hospital.
Additionally, the hospital's new health information technology, such as a 64-slice CT scan, has made healthcare cheaper but has taken away from revenue, the report said.
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