In the fiscal year ending Sept. 30, 2016, Rockport, Maine-based Pen Bay Medical Center had operating losses totaling $7.4 million, according to Knox Village Soup.
Here are four things to know:
1. In 2015, the nonprofit hospital suffered $3.5 million in losses.
2. Mark Fourre, MD, the hospital's president and CEO, attributes the financial losses to declining reimbursement and many patients being unable to pay their deductibles.
3. Therefore, the hospital is looking to transition more cases to the outpatient setting and is hiring more physician assistants, primary care physicians and nurse practitioners to accommodate the influx of new cases.
Dr. Fourre told Knox Village Soup, "Building up the ambulatory side (outpatient services) is key."
4. The hospital is one of Rockport's largest employers, and Dr. Fourre said the Pen Bay Medical Center may have to make some adjustments to staff personnel with the newfound outpatient strategy.