Patients who are treated at the University of Virginia Medical Center will see their hospital bills go up soon.
Starting this September, UVA will increase rates for medical services between 7 to 9 percent. Room charges and radiology tests are only some of the procedures that will cost more starting this fall.
This rate increase comes about six months after the medical center announced $184 million in net income - up $62 million from the year before. There was also an increase last year.
Larry Fitzgerald, associate vice president for business development, says the rate increase is necessary.
"We average somewhere in the rage of a 5 percent operating margin each year so to put that in perspective our profits will be approximately $60 million but capital budget is about $100 million so every penny of profit that we make gets reinvested in the facility that serves our community," said Larry Fitzgerald, vice president of UVA Hospital.
The rate increase will support areas that allow UVA to provide high-quality care. Fitzgerald says that health insurance will absorb most - if not virtually all - of the cost.
NBC29 talked to one health care patient who felt rising costs lead to rising insurance premiums. So either way, she feels she'll be paying more.
Friday, March 7 2014 4:54 PM EST2014-03-07 21:54:30 GMT
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