Guam – Vice Speaker B. J. Cruz, and Senator Tina Rose Muna Barnes have introduced a measure to help the Guam Memorial Hospital meet its operational needs with additional funding.
In particular, Bill No. 29-31 (COR) would increase funding for the hospital’s Pharmaceutical Fund.
Under existing law, 4% of Business Privilege Tax is set aside to deposit into the Pharmaceutical Fund. This new bill shall raise the set aside amount to 6.5% beginning March 1, 2011. The measure will also require the Guam Memorial Hospital to implement ‘Zero-Based Budgets’ beginning with Fiscal Year 2012.
“By introducing this legislation, we’ll be able to effectively solve some of the pharmaceutical problems that GMH has been having,” Vice Speaker Cruz said.
“Not having epidurals is a huge problem, we need to make sure they have the help they need, but in return, we need them to stand up and be accountable
for every cent they spend. If they need it we can provide it, but be accountable not just to me, but the people of Guam, it is after all their hospital.”
“An increase of the set aside to the pharmaceutical fund is intended to immediately address our hospital’s cash flow needs,” Sen. Barnes added. “I
look forward to working with the vice speaker and our other colleagues to ensure quality care and lower the cost of health insurance in the long-term.”