GMH facing $11M shortfall

by Krystal Paco

Guam - Guam Memorial Hospital's financial health continues to be ailing.  With four months remaining in the fiscal year hospital administrator Joseph Verga says GMH has $9 million left to receive from the Pharmaceutical Fund and $2 million to receive from corrections and has received no funds from non-billable sources from the GovGuam allocation for the month of April.

"So that caused us to really take a drop so I really want us to get that list over to DOA to let them know we have four months left and we have a serious cash flow problem and as well as the deficit that we need to cover and identify bridge sources and we desperately need those funds," he said.

According to Verga GMH will be implementing tighter measures over the next couple of months, especially if they are unable to identify bridge funds to cover the $11 million shortfall projected for the rest of the fiscal year.