Ed Quinlan, president of the Hospital Association of Rhode Island, said lower Medicare and Medicaid reimbursement rates and increases in uncompensated care contributed most to the financial downturn, according to the report.
A December 2011 report (pdf) from the HARI shows that uncompensated care totaled more than $160 million last year, and Rhode Island hospitals are projected to absorb $466 million in healthcare cuts over the next decade.
Related Articles on Hospital Financial Losses:
MetroHealth CEO Earned $696k While System Lost $2.7M in 2011
Aurora Sinai Medical Center in Milwaukee Faces Eight-Figure Losses, Uncertain Future
Investment Losses Drive Baptist Health South Florida’s Profits Down 46% in 2011
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