MaineHealth and Subsidiaries
Consolidated Statement of Operations
YEAR ENDED SEPTEMBER 30, 2023
| ($ in thousands) 2023 |
|
| FUNDS RECEIVED | |
| Amounts charged for patient services | 8,060,585 |
| Less portion not received due to Medicare, Medicaid and private insurance reimbursement rates paid at amounts less than charged | (4,372,149) |
| Less portion of amounts charged not received due to lack of patient ability to pay | (174,799) |
| Less portion of amounts charged that were provided to patients as free care | (88,140) |
| Net payments received from services provided to patients | 3,425,497 |
| Gifts, earnings on investments and other non-patient revenue | 620,273 |
| TOTAL FUNDS RECEIVED | 4,045,770 |
| FUNDS EXPENDED | |
| Salaries and benefits | 2,331,585 |
| Professional fees, purchasing services, supplies and taxes | 1,310,746 |
| Cost of facilities, depreciation, interest, other | 320,250 |
| TOTAL FUNDS EXPENDED | 3,962,581 |
| AMOUNTS EARNED FOR FUTURE INVESTMENTS IN PATIENT CARE AND COMMUNITY HEALTH PROGRAMS |
83,189 |
Source: Audited Financial Statements and Audit WP “2 – MaineHealth System Consolidating Financial Statements – 9.30.23 – Posted JE” file.
S&P Global Ratings affirmed MaineHealth’s
financial strength with an A+ rating in 2023.
Moody’s Investors Service affirmed
MaineHealth rating of A1 in 2023.