Schneck medicare funds reduced

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Automatic federal budget cuts will slice 2 percent from Schneck Medical Center’s Medicare reimbursements.

Medicare accounts for 40 percent of the Seymour-based hospital’s business, said Warren Forgey, Schneck’s chief financial officer.

If the cuts were in effect all of last year, the hospital would have lost $632,000 in Medicare payments, reducing its $17 million surplus or 6 percent margin.

Forgey expects Medicare cuts to show up in three to four weeks. That’s the typical lag between the hospital submitting Medicare billing and the federal government making payment on those claims.

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