Our financial health

Hospitals and health systems across the country are struggling. High labor costs, rapidly increasing inflation and the lasting effects of the COVID-19 pandemic have left an extraordinary impact on our operations and finances. This unsustainable national and local trend is impacting health care services and the ability of people to get the care they need.  

Within this challenging landscape, the UVM Health Network’s financial condition is improving, yet remains serious. We’ve reached a critical juncture, and thanks to innovation and system-wide collaboration, we’re making headway with some of our most pressing operational challenges, while driving our near-term financial recovery. To continue this work, we also need support from our governmental and community partners:

  • In Vermont, working with the Green Mountain Care Board to secure support for our much-needed budget requests.
  • In northern New York, we are applying for a federal “Critical Access Hospital” designation for one of our hospitals, building new primary care partnerships, seeking urgently-needed state funding to offset budget imbalances and exploring ways to fill critical provider and caregiver positions. 

“The simple reality of operating a nonprofit health system means we must take in enough revenue to cover the expenses of providing patient care. And just as importantly, we need to invest back into our people, equipment and facilities. We have no stockholders or investors—every dollar that comes in supports our mission.”

Sunny Eappen, MD, MBA, President and CEO of UVM Health Network

This is a critical time for us and for our region. Decisions made today will have a profound impact on the strength and resilience of our health care system for years to come. We know the cost of health care is already high, and we develop our budgets with a commitment to do what we can to keep costs down, protect essential partnerships within our communities and maintain ongoing support for our health care providers and our staff.”

—Rick Vincent, Chief Financial Officer, UVM Health Network