Guam hospital receives additional $2.4M in Medicare funds

TAMUNING, Guam – A Guam hospital has received a $2.4 million boost in Medicare funds following changes to the amount provided by the federal government for each eligible patient.

Pacific Daily News reported Sunday that the Guam Memorial Hospital Authority received the extra funds after the Centers for Medicare and Medicaid Services agreed to “rebase” patient rates.

The hospital’s administrator says there will be a 26% increase in the per diem rate for nightly hospital stays, up to $1,646, effective April 17.

Officials say the hospital expects the new rate will equal about $6 million each year for payments on Medicare, Medicaid and Medically Indigent Program accounts.

Officials say the hospital authority received $6.3 million in January for adjustments to fiscal 2014 to 2016 Medicare cost reports due to the financial restructuring.