July 15, 2008
MaineGeneral lands in the red
MaineGeneral Health, which operates hospitals in Augusta and Waterville, expects to lose $13 million in its recently ended fiscal year.
The company blames the drop in revenue during the 12 months through June 30 on such things as a drop in the number of patients, an increase in the number of physicians on staff, and an increase in charity care, according to the Morning Sentinel in Waterville. Scott Bullock, MaineGeneral Health's president and CEO, told the paper that he has asked departments to either trim expenses or raise revenue by 4%, among other cost-cutting measures.
MaineGeneral, which employs 3,800 and has an annual operating budget of $380 million, will release its final fiscal-year numbers in October.
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