The operating budget loss occurred in the first half of the hospital’s financial year. The full year runs October through September, according to the report. Inpatient and outpatient volumes have been dropping at Maine Medical Center since December, contributing to the loss.
In addition to the hiring and travel freeze, Maine Medical Center is also doing the following to combat financial losses, according to the Bangor Daily News:
• Freezing the operating contingency budget
• Reducing catering costs and overtime
• Cutting expenses and optimizing revenue opportunities at Maine Medical Partners, the hospital’s physician practice
More Articles on Hiring Freezes:
Wake Forest Baptist Medical Center Cost Cuts Affect Employees
Vanderbilt University Medical Center Freezes Pay, Vacation Time
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
