Guam hospital receives additional $2.4M in Medicare funds

Guam hospital receives additional $2.4M in Medicare funds

TAMUNING, Guam — A Guam hospital received a $2.4 million boost in Medicare funds following changes to the amount provided by the federal government for each eligible patient.

The Guam Memorial Hospital Authority received the extra funds after the Centers for Medicare and Medicaid Services agreed to “rebase” patient rates.

There will be a 26 percent increase in the rate for nightly hospital stays, up to $1,646, effective Wednesday, according to Lillian Perez-Posadas, the hospital’s administrator.

The hospital expects the new rate will equal about $6 million each year for payments on Medicare, Medicaid and Medically Indigent Program accounts, officials said.

The hospital received $6.3 million in January for adjustments to fiscal 2014 to 2016 Medicare cost reports due to the financial restructuring, officials said, and anticipates another adjustment payment for its fiscal 2017 Medicare cost report.

The hospital each year bills about $43.9 million for services to Medicare patients, but is paid only about half of that amount, officials said.