CFO Mer Doucette: Looking Ahead at East Maine Medical Center
It's CFO Mer Doucette's job to anticipate change and prepare Eastern Maine Medical Center for what's ahead. With 15 years at EMMC and 34 years in hospital finance, Mr. Doucette has a wealth of professional history to inform his decisions.
Mr. Doucette began at the Bangor, Maine-based hospital in 1978 as a reimbursement specialist. After 10 years, he took a CFO position at another hospital until 2007, when he returned to EMMC to fill his current role.
At 411 beds, EMMC is Maine's second-largest hospital and is looking to expand. Its parent company, Eastern Maine Healthcare Systems, based in Brewer, Maine, recently inked a merger agreement with Mercy Health System of Portland, Maine.
Last week, Moody's Investors Service issued an initial "Baa1" rating on $148 million in fixed rate bonds EMMC issued. Despite statewide funding challenges in Maine's Medicaid program, EMMC retained an average 1 to 2 percent operating margin and 123 days cash on hand, as of the end of fiscal year 2012.
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