The interim CEO of the financially strapped Springfield (Vt.) Hospital says that its financial structure is unsustainable and its survival will be “virtually impossible” unless it merges with other hospitals in its region, VTDigger.com reported. Michael Halstead, the interim CEO of Springfield Hospital, which filed for bankruptcy in June as it tries to restructure about $20 million in debt, presented its proposed budget Wednesday to the Green Mountain Care Board. The hospital is in merger talks with Mt. Ascutney Hospital in Windsor, Vt., and the Valley Regional Hospital in Claremont, N.H., with the support of Dartmouth Hitchcock Medical Center, which is already affiliated with the other two organizations. After months of financial strain, Springfield Hospital is expecting to lose $6.5 million by the close of the fiscal year, and in a proposed budget for next year, still projects a loss of about $1 million. Read more.
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