Maine hospitals plan for huge Medicaid windfall

Maine's hospitals, soon to be flush with cash after being notified they will receive more than $438 million in long-awaited payments from the Medicaid program, now are formulating plans to spend their windfalls.

Money from the state Medicaid program, MaineCare, totals $138.5 million owed to 39 hospitals statewide. Its payment will trigger an additional $300 million in payments from the federal government.

The seven-hospital Eastern Maine Healthcare System will use the $115 million it will receive to repay credit lines and possibly give its workforce a pay raise, the Bangor Daily News reported.

The Franklin Community Health Network, which is facing a $5.9 million deficit and has had to cut jobs, will retire some debt and invest in new healthcare information technology with the $15.4 million it will receive, according to the Portland Press-Herald.

"It's a real feeling of relief," Chief Financial Officer Wayne Bennett told the Press-Herald. "Running a hospital these days is like walking on a tight wire."

MaineGeneral Health will use the $38 million it receives to retire some debt and put toward the $312 million price of a new hospital it is constructing in Augusta.

"This is a big deal. If this didn't happen, it would have been detrimental," Mike Koziol, MaineGeneral's chief financial officer, told the Morning Sentinel.

To learn more:
- read the Bangor Daily News article
- check out the Portland Press-Herald article
- here's the Morning Sentinel article



Fuel Top Line Growth and Increase Membership

In this webinar, payers can learn how to accelerate the sales pipeline and grow membership across all health insurance market segments using comprehensive sales technologies.