Massena Memorial CFO blames employee insurance claims for net loss in June

Alia Paavola - Print  | 

Massena (N.Y.) Memorial Hospital CFO Patrick Facteau blamed employee health insurance claims for the hospital's $119,000 net deficit in June, according to North Country Now.

Although the hospital ended last month with a net loss, revenues increased on higher-than-expected inpatient and outpatient volumes. The hospital discharged 40 more inpatients than projected and registered 82 more outpatients.

"Revenues are up, clinics are up, all of our places are up," Mr. Facteau told North Country Now.

He said employee insurance claims led to the hospital's net loss in June. "[the employee health plan is] a self-insured plan. We had some large claims. That’s all we can say about it."

A financial summary released Monday revealed the hospital's expenses were $219,000 over budget in June and it has a year-to-date deficit of $364,629.

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