Will Stanford Expansion Weigh Heavily on Patient Pocketbooks?
Original post made by Mike, College Terrace, on Nov 13, 2007
That said, I'm concerned about something that I just saw in a past issue of the Stanford Daily. Here's a quote from that article:
"The current cost estimate for the hospitals' redevelopment plan falls just over the $1 billion mark. The medical school project has been an even higher price tag at $1.3 billion.
"Stanford will not seek state or federal funding to support construction, despite the multi-billion dollar price tag.
"To finance the endeavor, the Medical Center will rely instead on operations revenues and heavy borrowing, with a small percentage of funding coming from donors.Incoming patients will also bear the brunt of construction costs, paying on average nearly $1,000 more a day to stay at either of the hospitals. Medical School officials could not confirm whether insurers will cover the fee hike or if increased fees will substantially change patient demographics."
Given the above, one hopes that Stanford's excellence will continue to be within reach of those of little means. Stanford needs to clear this up, and let us know what its intentions are in this regard.
It would also help to know why Stanford did not seek State or Federal funding, especially if doing so would have meant a continuing ability to service patients from all demographics.
btw, this same article also goes into some of the fear and consternation that a few Palo Altans have about Stanford's development. We're looking a gift horse in the mouth, folks. We'd be best not to tie Stanford up in the Palo Alto Process, especially if our distinguished Mayor is exhorting us to look at Stanford as a partner in this process.