GHS Board of Trustees approves $1.6 billion budget for FY 2013
Wednesday, September 26, 2012
GREENVILLE, S.C. – Greenville Hospital System (GHS) approved a $1.6 billion total operating revenue budget that expands and improves patient access to medical care through strengthened clinical integration, coordination of care and by adding nearly 400 full-time positions in primary practice growth areas such as internal medicine, family medicine, pediatrics and obstetrics/gynecology.
The GHS Board of Trustees approved the fiscal year 2013 budget at its board meeting on Tuesday. The budget includes a 4% overall price increase, which is slightly below the consumer price index for medical care services.
“Clinical integration, even stronger coordination of care, academic innovation and a continued focus on ‘right care at the right time and right place’ will be hallmarks of GHS in years to come,” said Angelo Sinopoli, GHS’ vice president for clinical integration and Chief Medical Officer.
“Patients will also immediately benefit from greater access to care because of the additional physicians and staff, which we hope will improve the ability for patients to access physician care in a timely manner and so avoid delays in care,” said Sinopoli. “This will not only lead to the improved health of our community but reflects the mission and vision of GHS to improve health outcomes for its patients.”
The new positions are in response to a critical physician shortage affecting the Upstate and include physicians and support staff in areas such as primary care as well as pulmonary, geriatrics, gastroenterology, neurology and hospitalist care, he said.
Additional nurses and clinical staff will also be hired at GHS hospitals to accommodate growth and GHS’ commitment to quality.
GHS is already the county’s biggest employer, and the additional jobs will bring its employee ranks to more than 11,300.
“In developing this budget, leadership has balanced the future and strategic priorities of our health system with the current needs of the organization,” said GHS President and CEO Michael Riordan. Priorities for the coming year include expansion of GHS’ primary care physician network and key specialty areas and the continued strengthening of GHS’ cancer program.
“We had to make strategic decisions this year,” said Riordan, “but I believe GHS is now better positioned to meet the future health care needs of our community. Integration and innovation are key to not only surviving but thriving in this rapidly changing healthcare environment.”
The budget, which begins Oct. 1, is expected to increase 12.4% over the current year’s forecast and includes a 2.5% operating margin, said Terri Newsom, vice president for financial services and CFO at GHS.
In 2013, GHS will re-invest its capital budget dollars to improve its existing clinical and quality infrastructure, said Newsom. Requests for projects costing in excess of $1 million total approximately $139 million and include more than $32 million being invested on improvements to Greenville Memorial Hospital’s intensive care units and Marshall I. Pickens Hospital. FY 2013 capital pool requests for projects less than $1 million total nearly $39 million.
Previously approved and ongoing capital budget projects total $12.3 million and include installation of a linear accelerator in Easley, upgrades to GHS’ central energy plant and completion of a medical office building on the Greer Medical Campus. The cash flow for these projects spans multiple fiscal years, but board approval is required for the full amount of each of the requests.