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Article: Spectrum Health Provides $88 Million in Community Benefit; $69.6 Million is Spent on Medicaid and Medicare Shortfalls.
- Article from:
- Business Wire
- Article date:
- October 17, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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GRAND RAPIDS, Mich. -- Spectrum Health provided nearly $88 million in community benefit to West Michigan during its 2005 fiscal year - the largest amount in the system's history. This marks the fifth consecutive year that Spectrum Health's community benefit contribution has increased by 10 percent. The increase is largely a result of shortfalls in Medicaid and Medicare funding.
Spectrum Health's community benefit contribution was $15.5 million in 1997. Over the past five years it has consistently increased as detailed below:
FY 2001 - $36.1 million
FY 2002 - $40.6 million
FY 2003 - $50.6 million
FY 2004 - $72 million
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