Winona Health-Fiscal Cliff
Winona Health is bracing for some significant cuts in federal funding if Congress fails to act on the so-called fiscal cliff before the end of the year.
Chief Financial Officer Michael Allen told Winona Radio News that no agreement would mean a 2% automatic cut in Medicare payments and a 27% reduction in physician reimbursements from Medicare.
Allen says the total loss in revenue could go as high as $1,500,000 in 2013.
Allen also says Winona Health would have to make some adjustments in spending and revenues with a $1,500,000 funding loss.
Allen says no matter what scenario happens, Winona Health will continue to work its ongoing efforts to lower costs and being more efficient in driving the waste out of the organization.