In the first five months of MaineGeneral’s fiscal year, operating income totaled $2.4 million, down from its projection of $4.75 million, according to the report. In order to move forward with the new 192-bed hospital, the health system plans to enact several cost-cutting measures.
Measures include reducing paid-time off for two pay periods for all MaineGeneral employees and three pay periods for senior management and executive leadership, which is expected to save $1.5 million.
Related Articles on Hospital Finances:
Moody’s: Outlook for Non-Profit Healthcare Stays Negative for 2012
Required Capital Ratio: A New Financial Measurement for Hospital Mergers
Transforming Presbyterian Healthcare’s Call Center: From Revenue Eater to Friendly Front
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
