Patients at Good Sam won’t see a price increase in 2024.
The Good Samaritan Board of Governors approved the new budget on Thursday opting not to raise prices this year.
Chief Financial Officer Matt Schuckman says they understand the economic challenges in the community and are committed to keeping pricing competitive and keeping health care costs low in the area.
Officials say Good Samaritan will continue to have a focus on controlling costs throughout the organization, while also increasing revenue in areas with expected volume increases.
The hospital’s budget is set to reflect just a 1% net margin for the year, based on an anticipation of increased outpatient volumes and reduced costs.
Also part of the new budget is a 2% across the board raise for employees.
Executive Director of Human Resources Tara Ellerman says some employees will receive an additional market adjustment.
Merit and market increases will take effect the first pay period in April.
Good Sam President and CEO Rob McLin says the pay increases amount to $1.5 million of the hospital’s budget and the decision reflects a commitment to recognizing the hard work and dedication of their healthcare professionals.
