Current News

by Morgan True vtdigger.org One or more Vermont hospitals may switch to a system that would dramatically change they way they receive payment, starting by the end of this year.

Rutland Regional Medical Center has asked state regulators to transition to “global budget” payment model and the Green Mountain Care Board intends to test the idea. Other hospitals are considering the plan.

Global budgets are set payments determined by regulators to care for the population a hospital serves, rather than the hospital billing for each individual service it provides.

Vermont has long regulated hospital budgets, and since 2012 the Green Mountain Care Board has set hospital budgets by approving a maximum dollar figure for a hospital’s total revenue.

Currently, when a hospital exceeds its budget it could lead to greater scrutiny from the board and also impact the following year’s budget.

by Laura Krantz vtdigger.org Mental health and substance abuse services providers worry a bill intended to funnel people away from the corrections system and into treatment could flood their programs with new clients without additional funding.

Julie Tessler, the director of the designated agency network of nonprofit service providers, is worried about the financial impact of S.295, a sweeping criminal justice bill that passed the Senate and is now being vetted by several House committees.

State addiction providers are also concerned about the financial affects of S.295, but they are taking more of a “wait-and-see” approach.

Merchants Bank, Vermont’s largest bank, announced the appointment of Brandthropology, Inc. as agency of record for its marketing communications. The firm is tasked with helping consolidate the bank’s position as the leading Vermont-based financial services provider.

Brandthropology will bring significant experience from its engagements with clients in highly regulated industries including Northwestern Medical Center, Champlain National Bank, Kinney Pike Insurance and Hickok & Boardman HR Intelligence.

A number of Vermont rivers are near their banks and are likely to flood areas from Tuesday into Wednesday night or later. The entire state of Vermont is under a Flood Watch and National Weather Service has issued a Flood Warning for a number of river basins. A Flood Warning means flooding is already taking place or is imminent. NWS says flooding will be "minor" to "moderate" meaning:

• Water will overflow riverbanks and cause extensive field flooding
• Basement and other flooding of homes/businesses in flood plains is possible
• Several/numerous roads in flood plains could be flooded.

The Vermont state Emergency Operations Center is open to a partial activation with VT DEMHS staff and will fully activate with other state personnel at 7:00 Tuesday night - or earlier if there is a need. Communities that need assistance or resources should call VT DEMHS.

by Morgan True vtdigger.org Pathways Vermont, a housing and social services nonprofit, faces potential bankruptcy when federal grants expire in October unless the organization can become eligible for Medicaid payments and state funding.

Hilary Melton, executive director of Pathways Vermont, testifies Monday at a public hearing before Department of Mental Health officials. Photo by Morgan True/VTDigger

In its 11th year, the Genworth (NYSE: GNW) 2014 Cost of Care Survey shows the cost to receive long term care services at home in Vermont through a home health aide increased over the past five years. On a national level, the survey shows a dramatic increase in facility based care, such as an assisted living facility or nursing home, while the cost to receive care at home through homemaker services or a home health aide is rising at a moderate growth rate. This is good news for consumers as almost three quarters of people needing long term care prefer receiving it in their homes, according to Genworth's extensive claims data (Long term care claims Experience Data for Genworth Life Insurance Company and affiliates – December 1974-June 30, 2013).

Utah again earns the top spot for states with the best economic outlook in 2014, followed by South Dakota, Indiana, North Dakota and Idaho, according to the newest edition of the Rich States, Poor States report released by the American Legislative Exchange Council. The report also reveals that big reforms significantly helped Indiana, Michigan and North Carolina improve their national rankings this year. Illinois, Vermont and New York ranked last. Vermont ranked 50th in 2013.

Entergy Corporation (NYSE: ETR) today indicated that it expects first quarter 2014 as-reported earnings of approximately $2.23 per share and operational earnings of approximately $2.28 per share. Results for first quarter 2013 were $0.90 per share on an as-reported basis and $0.94 per share on an operational basis. Strong first quarter 2014 earnings resulted from significantly higher realized wholesale energy prices at Entergy Wholesale Commodities, reflecting cold winter weather and northeast pipeline infrastructure limitations, which reinforces the need for a diverse generation portfolio and the value of existing nuclear generation facilities in the region. The Utility also saw higher earnings on colder-than-normal temperatures. Entergy also raised its 2014 operational earnings guidance to be in the range of $5.55 to $6.75 per share.

by Morgan True, vtdigger.org House lawmakers are mounting a push for greater transparency and accountability from some of the largest and most profitable companies in the United States for the business they conduct in Vermont.

Proposed amendments to an omnibus health care reform bill under consideration in the House Health Care Committee would require pharmacy benefits management companies to disclose how much of the money they charge stays in their pockets.

The Transportation Security Administration (TSA) has opened two new application sites in Vermont for its TSA Pre✓™ Program. This application process allows US citizens and lawful permanent residents to directly enroll in the TSA Pre✓™ expedited screening program that allows air travelers to leave on their shoes, light outerwear and belt, keep their laptop in its case and their 3-1-1 compliant liquids/gels bag in a carry-on, in select airport screening lanes, including those at nearby Burlington International Airport.

Members of the Town of Bennington staff were in Burlington earlier this month being recognized by the Vermont Governor’s Council on Physical Fitness and Sport for Bennington’s workplace wellness initiatives. One of 99 businesses considered for the award, the Town touted its annual employee wellness challenge, staff awards for wellness and free flu shot clinics paid for by past wellness awards, along with other efforts. In the end the Town received the bronze award along with other businesses such as Johnson State College, Essex Town School District and the City of Burlington.

New Hampshire Thrift Bancshares, Inc (NASDAQ: NHTB), the holding company for Lake Sunapee Bank, fsb, has reported consolidated net income for the three months ended March 31, 2014, of $2.1 million, or $0.25 per common share, assuming dilution, compared to $2.1 million, or $0.27 per common share, assuming dilution, for same period in 2013, an increase of $92 thousand, or 4.49%. The weighted average numbers of common shares, assuming dilution, were 8,231,992 and 7,060,234 for the three periods ended March 31, 2014, and 2013, respectively.