Knox County hospital faces $2M in cuts
Pen Bay Medical Center in Rockport is making $2 million in cuts in an attempt to curb an operating loss that is emerging halfway through its fiscal year.
The Bangor Daily News reported the hospital is planning to curb its $2.7 million operating loss by the end of September in hopes of coming close to breaking even. The cuts will come in the form of not filling some vacant positions and sharing services with two nearby hospitals, interim CEO Mark Biscone told the newspaper, noting that 60% of Maine hospitals have operating losses.
When forming its 2013-2014 budget last year, the hospital had projected it would finish with a $4 million operating surplus. Biscone said the operating loss stems from inadequate reimbursements from Medicare, among other programs, and decreasing use of its services.
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