The Washington Daily news Broke the Story: Now I Can Talk About It ... in a Limited Measure. | Eastern NC Now

    The Beaufort Regional Health System, 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 Regional Health System, 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 Regional Health System.

    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