Annually by October 1, the Green Mountain Care Board (GMCB) has the responsibility to review and establish budgets for Vermont’s 14 community hospitals. In its review, the Board considers local health care needs and resources, utilization and quality data, hospital administrative costs, and other data, as well as presentations from hospitals and comments from members of the public.
Vermont’s Legislature assigned the GMCB the responsibility to see that Vermont’s health system improves the health of Vermonters while slowing health care cost growth, including -- in Act 171 of 2012 -- responsibility for hospital budget oversight. The Board performs its hospital budget regulatory duties by establishing budgets, enforcing budgets, and monitoring performance. A full overview of the process can be found here.
Timeline for Hospital Budget Review
- March/April: Board provides hospitals with written guidance for the upcoming budget (FY23 Guidance Materials).
- July 1: Hospital Budgets due to the GMCB.
- August: Hospital Budget Hearings (open to the public online, through Microsoft Teams) will be held during the weeks of August 15 and 22 on Monday, Wednesday, and Friday beginning at 8:30 am. Further details will be available in August on the GMCB Board Meeting Information page. The hospital budget hearing schedule can be seen here.
- September: Board publicly deliberates to approve, modify, or deny budgets by September 15.
- October: Budget orders delivered to hospitals by October 1 (start of hospital fiscal year).