2 to 10 Days Cash on Hand: Schneider Hospital Says GVI's $32.7 Million Threatens its Ability to Care for Patients

The financial situation at the Schneider Regional Medical Center has been characterized as “troubling” by Senator Donna Frett-Gregory. Her assessment was made following testimony from SRMC’s Chief Executive Officer Tina Commissiong, as she defended a $46.3 million FY2025 budget request before the Committee on Budget, Appropriations, and Finance.

That number far exceeds the $32.75 million ceiling the executive branch suggested the hospital use to build its budget. However, for SRMC, their higher requested amount is in line with what the law prescribes. “As per the law,” said Ms. Commissiong, the Government of the Virgin Islands must “cover the local Medicaid match” and uncompensated care. Projections for FY2025 bill the Medicaid match at $2.3 million lower than the FY2024 match as roughly 16,000 people are expected to lose Medicaid coverage within this fiscal year.

“SRMC expects to provide $44 million in uncompensated care,” announced Ms. Commissiong. In the current fiscal year, the hospital is on track to provide $32 million in uncompensated care, but rightsizing the Medicaid program will inevitably inflate care costs for SRMC. Consequently, SRMC contends that to “cover the two requirements under the law, the GVI appropriation should be $46.3 million.”‌

Outside of the GVI allocation, SRMC is projecting revenue collections of $75 million in FY2025, primarily from insurance. The General Fund appropriation is only one portion of SRMC’s funding sources, but for the hospital’s management, it is a critical source. “While we would love to be able to fully support our operations without the GVI allotment, the realities are that the population we serve is aged and underinsured,” reminded the CEO.‌