MaineHealth CEO Bill Caron (l) and President Rich Petersen (r), effective January 1, 2019About the MaineHealth Annual Report
This has been a truly transformative year for MaineHealth.
We began this year as a hospital system of 10 member organizations serving diverse and independent communities across much of Maine and Carroll County, N.H. We will end 2018 by bringing together our Maine hospital members as a unified organization overseen by a single Board of Trustees. This will enable us to undertake our mission in common purpose, sharing the opportunities and challenges of providing care to the 1.1 million people across our service area.
Of course, our success will continue to depend on the talented people who make up the MaineHealth team, especially those on the front lines providing care in each of our communities. And as we have for the past 21 years, we will depend on volunteer and executive leaders in each of our communities to assure that we provide high-quality, patient-centered care as close to home as possible.
The stories inside this Annual Report reflect that commitment. We are investing in new infrastructure across our system. We are tackling tough problems like the opioid epidemic. We are delivering world-class cancer care in a team-based approach. And of course, we continue to invest in the future, not only through research, but also by educating the caregivers of tomorrow.
With the strength of the MaineHealth system now connecting us in each community, we’ve never been better positioned to deliver on our commitment to make a difference and achieve our vision of “working together so our communities are the healthiest in America.”
William L. Caron, Jr
Chief Executive Officer, MaineHealth (1/1/19)
Richard W. Petersen
President, MaineHealth (1/1/19)
In keeping with our vision and mission, the MaineHealth integrated health system works together to offer a wide range of community programs focused on disease management, prevention and population health — free of charge — and no one is ever denied care because of inability to pay.
In 2017 the MaineHealth quantifiable value of community benefits at cost was $451 million.
This number reflects all of the programs and services our health system provides without reimbursement, including uncompensated care, professional education and training, community health services and support, and research.
Ensuring Access to Care
For more than 15 years, tens of thousands of Maine people have been connected to high-quality care, received free and low-cost prescription medications, and learned how to successfully navigate the complexities of the health care system through MaineHealth’s nationally recognized Access to Care programs:
CarePartners
Helps people who don't qualify for public or private health care coverage programs get the health care they need.
MedAccess
Helps patients and health care providers find free or low-cost prescription drug options.
Coverage Team
Helps to educate and enroll people through Health Insurance Marketplace and MaineCare.
Here are just a few of the ways these important programs helped our communities in FY17:
MaineHealth and Subsidiaries Consolidated Statement of Operations
Year Ended September 30, 2017
($ in thousands) 2017
Funds Received
Amounts charged for patient services
4,358,531
Less portion not received due to Medicare, Medicaid and private insurance reimbursement rates
paid at amounts less than charged
(1,963,006)
Less portion of amounts charged not received due to lack of patient ability to pay
(111,439)
Less portion of amounts charged that were provided to patients as free care
(112,337)
Net payments received from services provided to patients
2,171,749
Gifts, earnings on investments and other non-patient revenue
252,136
Total Funds Received
2,423,885
Funds Expended
Salaries and benefits
1,461,774
Professional fees, purchased services, supplies and taxes
600,352
Cost of facilities, depreciation, interest, other
248,652
Total Funds Expended
2,310,778
Amounts Earned for Future Investments in Patient Care and Community Health Programs
$113,107
S&P Global Ratings affirmed MaineHealth's financial strength with an A+ rating in 2018.
Moody's Investor Service assigned MaineHealth a rating of A1 in 2018.
