Skiff Medical Center ends fiscal year in the black, provides $3.4M in community benefits
“We’re celebrating the fact that we had a great year, but at the same time we fully understand how we got here.”
Skiff Medical Center CEO Steve Long is a pretty happy guy these days, noting the Newton hospital ended a fiscal year with a positive fund balance for the first time since 2007. But he’s also quick to point out Skiff ended the year in the black based almost entirely on a provision of the Affordable Healthcare Act and federal stimulus money.
Skiff is one of 26 hospitals in 11 states selected to participate in a Medicare demonstration program, through which it receives full reimbursement for all Medicare-covered care it provides. Prior to joining the five-year demonstration program, it received just 89 cents for every dollar of service it provided.
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