The Beaufort County Medical Center, formerly, and recently known as the Beaufort County Hospital has just released a public statement as to their financial condition, and their immediate need to make some attempt to correct their financial condition. While it is imperative that the county hospital take immediate stock in the gravity of their financial condition, one wonders: Will it be enough?

    They are admittedly throwing-in-the-towell just as they are beginning to examine the possibility of meeting their financial obligations. It may sound like the "too little, too late" adage, but maybe they can pull this off. Regardless, this issue will possibly rival the revaluation as the riveting issue, this year, in Beaufort County. Believe me on this, I kind of have a firm sense of these things.


    Local Hospital Responds to Economic Downturn

    Beaufort County Medical Center, in response to declines in patient volumes and
profitability, has announced plans to cope with the anticipated impact of the economic downturn. The Hospital
Board has approved a series of actions designed to improve efficiencies and reduce costs. Among these actions
is a planned reduction in force with approximately 16 positions targeted for elimination. The health system
currently employs approximately 750 individuals. At the same time, the Board has contracted with a consulting
firm to guide the hospital through an exploration of potential partnership opportunities with larger health
systems. That evaluation process is expected to take several months.

    The year long downturn in the economy has created financial challenges for Beaufort Regional Health System.
Hospital patient volumes are declining and there is concern about the impact of potential cuts in Medicare and
Medicaid reimbursement and the impact of healthcare reform.

    The Board of Commissioners of Beaufort Regional Health System voted on Tuesday to approve a contract with
HealthCare Appraisers, Inc. to assist the health system in evaluating strategic options regarding its future. The
firm will help the health system explore potential partnerships with larger health systems in an effort to
maintain high standards in financial viability and clinical programs. Partnering with larger health systems is
becoming a common national trend for hospitals the size of Beaufort County Medical Center.

    In addition, the board voted to implement a $1.8 million cost-saving plan. The majority of the cost-cutting
measures are being taken in the health system’s medical practices. Costs can be reduced through efforts to
renegotiate insurance company contracts, reduce medical malpractice insurance rates and implement a variety
of changes and operational improvements. The cost savings also includes consolidating some health system
services as well as a modest reduction in force.

    For further information please contact:
    Pam Shadle, Director of Marketing, Public Relations and Development
    Phone: (252) 975-4134
    Cell: (252) 945-3806
    pshadle@brhealthsystem.org

    This article provided courtesy of our sister site: Beaufort County Now