Milford Regional Medical Center's losses narrow
Photo | Grant Welker
Milford Regional Medical Center
Milford Regional Medical Center reported a $1.8 million loss for fiscal 2019, marking an improvement from the prior year but still landing in the red.
Milford Regional, which posted its annual finances Wednesday, reported $294 million in operating revenue, including $279 million in patient services. Expenses climbed to nearly $294 million.
The hospital would have been more profitable if not for its physicians group, a scenario common for health systems. Information previously submitted to the Massachusetts Center for Health Information and Analysis showed Milford Regional with an $8.5-million profit for the hospital erased by an $8.9-million loss in its physicians group.
The 149-bed hospital, which is one of few remaining independent hospitals in Massachusetts, had nearly 14,000 inpatient discharges in fiscal 2019, and 60,000 emergency room visits. Outpatient registrations exceeded 425,000.
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