Stamford Health Stands With CT Hospitals
Today, Stamford Health joined leaders from the Connecticut Hospital Association (CHA) and other Connecticut hospitals during Hospital Advocacy Day in Hartford. With Legislators beginning deliberations around formulating the next two-year State budget, Hospitals want to remind them of the critical role hospitals play in their communities, not to mention the health of the State. Now more than ever it's important for our representatives oppose and measures that increase or institute new taxes on hospitals, as well as oppose proposals that would add additional regulatory burdens.
Connecticut hospitals currently pay $556 million in taxes each year – nearly 30 times the corporate tax rate. According to data provided by CHA, these increasing hospital taxes have resulted in the loss of 3,000 healthcare jobs, extended wait times and reduced access to care for those who need it the most.
There are several good articles that have been published that outline the challenges the budget strategy has put on hospitals:
Stamford Health is an independent, not-for-profit hospital system that serves one of the largest regions in the state – roughly 650,000 residents. The system employs more than 2,200 people and provides life-saving care for our communities 24 hours-a-day, 7 days-per-week.
Overall, Connecticut hospital health systems contribute $26.2 billion to the state and local economies each year, and serve as a magnet for other business and commerce. Stamford Health’s contribution is more than $1 billion. Last year, Stamford Health provided uncompensated charity care valued at $25.9 million. Since the implementation of the hospital tax, Stamford Hospital has absorbed taxes and cuts to reimbursements at a cost of nearly $75 million – which will soon surpass $100 million.
Absent the hospital tax, these dollars would have been invested in services we provide to our patients, the purchase of needed technology and infrastructure improvements in our community.