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WHO PAYS FOR THIS ADDITION?
We are—without raising your taxes or padding your hospital bill. Fact is, the 2009-2010 $15.1 million remodel is primarily funded by the commercial bond market. The hospital is obligated to pay off the bonds within the next 25 years. We intend to pay them off by hospital revenues gained from Medicaid and Medicare reimbursements. Due to government incentives that encourage rural Critical Access [click on here to get the information below] hospitals to update their facilities, the Medicaid and Medicare reimbursements will increase to help us cover the costs without affecting the patients’ out-of-pocket expenses. In addition, a few generous individuals have helped to off-set the cost of a portion of the construction by directing their donations to our building fund.
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