CFO Mer Doucette: Looking Ahead at East Maine Medical Center
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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