Sixteen hospitals in Massachusetts — representing nearly 25 percent of all hospitals in the state — lost money last year, according to a Boston Globe news report.
Although nearly the same number of hospitals, 13 total, also reported losing money in 2009, the deficits increased into 2010, according to the news report. Much of the financial pressure stems from lower reimbursement from Medicare and Medicaid. The average Massachusetts hospital receives approximately 60 percent of its revenue from these federal healthcare programs, according to the news report.
Massachusetts hospitals have relied on several measures to keep their facilities afloat during the economic downturn, including job layoffs and programs focused on lean methodology. Altogether, Massachusetts hospitals have reduced projected expenditures by approximately $3.1 billion in 2009 and 2010, according to the news report.
Read the news report about Massachusetts hospitals.
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Although nearly the same number of hospitals, 13 total, also reported losing money in 2009, the deficits increased into 2010, according to the news report. Much of the financial pressure stems from lower reimbursement from Medicare and Medicaid. The average Massachusetts hospital receives approximately 60 percent of its revenue from these federal healthcare programs, according to the news report.
Massachusetts hospitals have relied on several measures to keep their facilities afloat during the economic downturn, including job layoffs and programs focused on lean methodology. Altogether, Massachusetts hospitals have reduced projected expenditures by approximately $3.1 billion in 2009 and 2010, according to the news report.
Read the news report about Massachusetts hospitals.
Related Articles on Hospital Finances:
Iowa's Skiff Medical Center Finances Improve But Still in the Red
West Tennessee Healthcare's Operating Margin Lower Than Average
Texas' Southwestern Medical Center Cutting 350 Jobs