Greenville Hospital System Board of Trustees announced Tuesday that they approved a $1.5 million budget that expands patient access and adds 120 fulltime jobs.
The 2012 fiscal year budget also included a 4.7 percent increase.
Terri Newsom, vice president for financial services and CFO at GHS, said the increase is in line with the consumer price index for medical care services.
"Our annual budget is one element of a highly aligned goals process that supports our vision and mission to heal compassionately, teach innovatively and improve constantly," said GHS President and CEO Michael Riordan. "Ensuring a sustainable financial model through rigorous cost management makes possible our role as a critical community resource for patient care and education."
The budget is a 4.9 percent increase over the 2011 fiscal year budget and will begin on Oct. 1.
Newsom said that GHS is challenged by the state budget cuts that prompted significant Medicaid reimbursement reductions.
Those reductions are predicted to impact GHS by $20 million.
"Long term, it puts that much more pressure on us to manage costs while continuing to provide high-quality care," said Newsom.
GHS said that of the 120 new jobs, half will be physicians or support staff in areas such as urology, general surgery, ear-nose-and-throat, neurosurgery, plastic surgery and pain management.
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