Rhode Island hospitals lost nearly $4 million in 2011, the first time the state's hospitals recorded a negative cumulative operating margin, according to a Rhode Island Public Radio report.
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.
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.
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