ALBANY, N.Y.A new comparative analysis of 19 states shows that New Yorks Medicaid program spends the most on long-term healthcare, but delivers only average or slightly above average quality. The study was conducted by the Nelson A. Rockefeller Institute of Government, a nonpartisan Albany-based think tank, for the New York State Health Department with funding from the New York State Health Foundation. According to the report, New York and Maine had the highest rates of Medicaid spending in 20035.3%which was calculated as a percentage of the gross state product. The spending includes disproportionate-share payments but does not include administrative costs. In 2006, the report showed, New Yorks total Medicaid spending was $44.7 billion, of which it spent $19 billion on long-term care. The study noted that New York has a higher-than-average percentage of people over the age of 85, while a greater percentage of the states elderly population (18%) is poor.
Regionals: Executive compensation cut and other news...
PITTSBURGHThe University of Pittsburgh Medical Center system said last month that executive compensation would be cut by 25% as part of the systems plan to shave $150 million, or 2%, off its operating expenses. In an e-mail to employees, the systems finance and human resource chiefs said, While it is clear our financial position is solid, its also evident that the healthcare industry is not immune to the effects of the current national economic downturn that shows no apparent timeline for a recovery. The e-mail did not offer details for how the 12-hospital system would cut costs other than careful examination of all aspects of controllable expenses. UPMC finished its fiscal 2008 on June 30 with operating income of $184 million on $7 billion in revenue, an operating margin of 2.6%. Three months later, UPMC reported operating income of $63 million on $1.9 billion in revenue. Paul Wood, a spokesman for the system, said financial figures for the quarter that ended Dec. 31, 2008, are expected to be released shortly. The figures continue to show strong operations, Wood said, adding that budget-tightening was intended to preserve the systems strength.
Send us a letter
Have an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print.