SVMC Plans To Cut Up To $5 Million

11/23/12 6:06AM

The Southwestern Vermont Medical Center plans to reduce expenses by up to $5 million this fiscal year to make for a decline in projected revenue.

Southwestern spokesman Kevin Robinson said after the hospital makes its reductions, it will form a plan to reduce expenses by 15 to 20 percent over the next five years.

CEO Thomas Dee told employees in a letter this week the changes will lead to fewer hospital jobs.

The Bennington Banner reports Robinson said there are no plans to shed a large number of employees, and the hospital has yet to determine how many employees it expects to lose.

Robinson said other hospitals in the region have been reporting revenue losses, largely the result of fewer billable services like surgeries and tests.

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