Updated: Wednesday, 28 Nov 2012, 11:48 PM EST
Published : Wednesday, 28 Nov 2012, 11:37 PM EST
VINCENNES, IND. (WTHI) - While most of the nation was going wild over the half billion dollar Powerball jackpot, the board for a hospital in a small southern Indiana community was matter-of-factly approving a new budget of nearly lottery proportions.
Good Samaritan Hospital in Vincennes plans to work off of a spending plan totaling $474-million.
The budget is about growing the hospital to keep it competitive.
Good Samaritan Hospital may sit in the small city of Vincennes, but officials there don't think small.
The hospital is growing, in the midst of a major expansion, and plans to work off of a budget that will approach a half-billion dollars.
"We serve a great many patients in a 10 county service area," said Good Samaritan Hospital Chief Financial Officer Jerry Stump. "It's not just the small town of Vincennes."
There are 3 keys to keeping this big budget in the black.
The first is to cut expenses by $2-million dollars next year.
Another is to raise rates on average about 6 percent.
The third is to increase admissions by 4 percent.
The important part to that is new physicians.
"We have recruited several new physicians," said Stump. "We have had 2 new physicians start in November, just 3 weeks ago, 2 surgeons who have hit the ground running."
Officials note that even with the rate increase the hospital will be able to compete with similar hospitals around the area.
"We're very competitive," said Stump. "We've been a low-cost hospital for years. We plan to stay a low-cost hospital."
They also plan to continue to grow this operation to bring in more doctors, more services and better care for the patients in this community and the surrounding counties.
Officials say the budget includes a 3 percent pay raise for employees and $7-million for medical care to those who can't afford to pay.
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