Financial and Performance

The Red Lake Margaret Cochenour Memorial Hospital is committed to operating and managing public funds with fiscal responsibility and to providing the highest standards of care at the best value.

 

We publicly post our service agreements, executive travel expenses and compensation, voluntary Board member's business-related expenses, audited financial statements and our performance scorecards to keep our commitment to accountability and comply with legislative requirements set by the Broader Public Sector Accountability Act.

 

The following documents are available to the public and can be viewed, downloaded or printed:

Hospital Funding in Ontario - A Quick Overview

The main source of hospital funding is government funding, which flows from the Ministry of Health and Long-Term Care to the Local Health Integration Networks. The LHIN's are responsible for planning health services and overseeing the integration and coordination of local health services to make it easier for clients/patients to access the care they need. Red Lake is located within the Northwest Health LHIN 14.


Provincial funding covers approximately 75% of the operating costs for hospitals. Other sources of revenue include revenue-generating activities, other government sources (e.g. Federal funding, inter-provincial healthcare, WSIB and private, etc.), grants and charitable donations.