Stock: TRMC to move on with ‘focused independence’

Thibodaux Regional Medical Center CEO Greg Stock said the hospital will continue to weather the storm that is the Patient Protection and Affordable Health Care Act with “focused independence” at the Bayou Industrial Group luncheon on Monday.

Stock admitted the national health care plan aimed at insuring every American citizen is confusing. He added that through discussions with colleagues, he has learned that some hospital CEOs are standing pat and waiting for more information while others are taking on risks and trying to expand.

“You’ll see there are not that many independent total hospitals like us,” Stock said. “That’s a thought for us. Can we support the services that we provide and still stay financially viable and compete on a larger scale? That’s something we have talked about and will talk about more on a board [of directors] level.”

The health care industry is in a state of flux. The legislation is approximately 2,700 pages long, and nobody is quite sure about the absolute affects it will have. Many have projected future losses for hospitals, and the federal government has touted that the bill will cut the federal deficit.

Stock presented some numbers, such as the cost of health care premiums increasing by 119 percent from 1999 to 2008 and the Louisiana Medicaid budget shortfall increasing from $275 million in 2010 to $900 million in 2012. But he also said not to put too much stock in the projections and described them as “gobbly goo.”

One set of numbers that Stock did hit on, however, was the inverse correlation between Louisiana Medicaid enrollment and health care inflation in comparison to the hospital reimbursement for the Medicaid.

While both enrollment and inflation have increased the costs facing hospitals by more than 60 percent since 1995, government reimbursement has decreased 9 percent over the same time.

Instead of panicking or maintaining the status quo in a time when the “wind of change” is blowing, TRMC will increase its focus on prevention. As one of the region’s top hospitals that boasts national awards, they will look towards pioneering a wellness center with a formal announcement next month, Stock said.