— This week’s episode of “WisBusiness: the Podcast” is with Eric Borgerding, president and CEO of the Wisconsin Hospital Association.
Borgerding discusses some of WHA’s top policy priorities for this year, as well as major trends affecting the industry such as the rising cost of delivering care.
“Like every part of the economy, for all businesses, costs are going up,” he said. “Production costs, labor costs, supply costs. That is true three-fold in health care … the cost of drugs, the cost of supplies — all going through the roof. And the cost of labor, which is typically the majority of a hospital’s operating budget.”
Despite this trend, he notes that “reimbursement for hospital care is essentially flat,” especially when compared to inflation. Meanwhile, the Medicare and Medicaid programs are making up a greater share of hospitals’ payer mix, he explained.
“Both of those pay well below the actual cost of providing care,” he said. “And those numbers are growing. Medicaid enrollment has gone up quite a bit, Medicare with the aging population in Wisconsin, that enrollment is also going up.”
Along with higher reimbursement rates for the health care sector, Borgerding said WHA is eyeing strategies for bolstering the industry’s workforce. He argues “there’s a lot more we can do” on this front.
“It’s a very, very competitive labor market, right? That’s not rocket science, everybody knows that. But in health care … it’s really difficult to just dial down output,” he said.
Listen to the latest episode here: https://www.wisbusiness.com/2023/wisbusiness-the-podcast-with-eric-borgerding-wisconsin-hospital-association-3/
See the full list of WisBusiness.com podcasts: https://www.wisbusiness.com/category/podcast/
See a recent story on hospitals in Wisconsin: https://www.wisbusiness.com/2022/covid-picture-vastly-improved-from-last-december-but-hospitals-still-feeling-pandemic-impacts/
— In the latest episode of “Talking Trade,” Asia Society Policy Institute Vice President Wendy Cutler says it’s unlikely that tariffs on Chinese goods will be lifted anytime soon.
She discusses the recent news that tariff exclusions on several hundred products have been extended for another nine months after being set to expire at the end of last year.
“But we’re talking about 352 products out of thousands and thousands,” she said. “And so, the exclusion relief also has been pretty minimal under the Biden administration. But I do think what you’re seeing is businesses are learning how to live with these tariffs, and how to do workarounds, and how to restructure their businesses.”
Cutler notes some vocal advocates have been urging the United States to engage more with China and “get back to the negotiating table.” But she says those perspectives are now in the minority.
“The climate in Washington is you can’t be tough enough when it comes to China,” she said. “I think there’s a sense that if we sat down at the negotiating table with them on trade, what exactly would we negotiate?”
She explained Chinese President Xi Jinping has made it clear the government will continue to play a major role in the country’s economy. That includes more restrictions on data and privacy. Cutler says U.S. trade policy will focus more on boosting competitiveness while working with allies to “develop a collective response to objectionable practices” by China.
The discussion also highlights U.S. export trends, COVID-19, China’s contracting economy and resulting efforts to improve self-reliance, as well as the Trans-Pacific Partnership and more.
Watch the latest episode here: https://www.wisbusiness.com/2023/talking-trade-with-asia-society-policy-institute-vice-president-wendy-cutler/
“Talking Trade” is now available in audio form on Apple Podcasts and Google Podcasts. Subscribe and find more episodes here: https://www.wisbusiness.com/category/talking-trade/
— The combined state and local tax burden in Wisconsin fell in 2022 to its lowest share of income on record thanks to a new round of tax cuts and growing salaries, the Wisconsin Policy Forum reports.
In the fiscal year that ended June 30, state and local tax revenues accounted for 10.1 percent of personal income in the state, compared to 10.3 percent in the 2020-21 fiscal year.
Along with the $1 billion a year in state income tax cuts approved for 2021-22, property tax caps helped hold down local revenues. And the state saw personal income grow 6.7 percent in calendar year 2021, the most recent available.
Altogether, state and local tax collections rose to $35.36 billion for fiscal year 2022, up 4.1 percent from the $33.97 billion in the previous year. With income growth outstripping that increase in tax collections, it drove down the burden.
The forum and its predecessor the Wisconsin Taxpayers Alliance have been tracking the state-local tax burden since 1970. It peaked in 1971 at 14.7 percent.
The new report is a first look at the combined state-local tax burden for Wisconsin for fiscal year 2021-22. The forum uses Census data each fall to compare Wisconsin to other states, though there is a lag in those numbers. In October, it found Wisconsin ranked 18th in the country for the highest state-local tax burden for the fiscal year that ended June 20, 2020, the most recent available. It was the third year in a row that Wisconsin’s state and local tax burden was below the national average.
This fall, the group will be able to use Census data to determine how Wisconsin ranked for the fiscal year that ended June 30, 2021.
Read the report: https://www.wispolitics.com/wp-content/uploads/2023/01/230105Policy.pdf
— Champlin’s Sugar Creek Farm, an independent rancher in the La Crosse area, is getting a $50,000 federal grant for meat processing.
This grant funding was announced yesterday by the USDA as part of a $9.6 million round of grants and loans for the U.S. meat supply chain.
According to a fact sheet from the agency, the funds going to Champlin’s Sugar Creek Farm will be used for working capital, marketing and distribution. This support comes from the agency’s Value-Added Producer Grant program.
The USDA says the grant will help the farm gain 72 customers, increase revenue by about $200,000 and create one new job.
See the full list of funds here: https://www.rd.usda.gov/media/file/download/usda-meat-supply-news-release-chart-01-05-2023
See the release: https://www.usda.gov/media/press-releases/2023/01/05/biden-harris-administration-invests-projects-promote-competition
<br><b><i>Top headlines from the Health Care Report … </b></i>
— UW-Madison researchers have discovered retina cells created from stem cells can form connections with one another, marking a step toward clinical trials for blindness treatments.
<i>For more of the most relevant news on COVID-19, reports on groundbreaking health research in Wisconsin, links to top stories and more, sign up today for the free daily Health Care Report from WisPolitics.com and WisBusiness.com.</i>
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#TOP STORIES#
# Wisconsin remains leader in organic industry, but limits on infrastructure, land could be impacting growth
# Tribes in Wisconsin reintroduce bison with an eye toward food sovereignty, cultural revitalization
# Milwaukee tech startup Forj raises $15M, merges with Madison firm
#TOPICS#
# AGRIBUSINESS
– Dairy plant fire spills melted butter into central Wisconsin canal
# CONSTRUCTION
– Construction industry looks to public sector amid supply, labor challenges in annual AGC of America survey
– Building Blocks: Straz Hall at Marquette University
# EDUCATION
– Milwaukee College Prep names new CEO
# ENVIRONMENT
– Anonymous objection holds up massive Northwoods conservation effort
# FOOD AND BEVERAGE
– A food lover’s year: What opened, what closed, and what to try now
– Westallion Brewing to permanently close its West Allis location
– Streetwise: A popular Green Bay smash burger food truck now has a permanent restaurant
# HEALTH CARE
– Experts say flu vaccines are especially important for health care workers, but immunization rates vary across Wisconsin hospitals
– Abortion pills won’t be more available in Wisconsin. Here’s why.
– GE HealthCare requiring white-collar staff to work at office three days a week after spin-off
– Greenfield health care facility sold for $23.6 million
– Drug shortage challenge hits SSM Health, UW Health
# LEGAL
– Workers sue Eau Claire hotel, accuse owner of not paying overtime rates
# MANUFACTURING
– Westallion Brewing Co. will close in West Allis
– Sellars Absorbent Materials raising another $3.9 million
# MEDIA
– Milwaukee is getting its own TV show, made by the city’s tourism bureau
# POLITICS
– Evers meets with mayors of Wisconsin’s 5 largest cities
# REAL ESTATE
– Emerging from pandemic’s remote work revolution, Milwaukee office market looks to 2023
# RETAIL
– Festival Foods sells Greenfield store building to REIT
# TRANSPORTATION
– Wisconsin’s population is trending older. Where will non-drivers find transportation?
# PRESS RELEASES
<i>See these and other press releases:
https://www.wisbusiness.com/press-releases/ </i>
UW-Stout: A brilliant new ‘S’: UW-Stout’s dynamic next logo represents its three polytechnic tenets
