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December 24, 2014

MaineHealth gets $9.2M for cutting costs

The MaineHealth system has received a $9.2 million check from the federal government for cutting Medicare costs by nearly $20 million.

The Portland Press Herald reported that the October check resulted from MaineHealth participating in the Medicare Shared Savings Program, which gives primary care networks incentives for cutting costs.

Frank McGinty, executive vice president and treasurer for MaineHealth, told the newspaper that MaineHealth participated in the program because it saved the health care system money and also improved care for patients. He said the program helped MaineHealth save $20 million in Medicare costs by eliminating unnecessary tests and encouraging better patient monitoring.

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