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Format: 04/19/2014
Format: 04/19/2014

News

Pittsburgh Post-Gazette: West Penn nets profit for quarter

Tuesday, December 1st, 2009

By Steve Twedt, Pittsburgh Post-Gazette
The West Penn Allegheny Health System reported a net profit of $4.3 million for the first quarter of fiscal year 2010, its second consecutive quarterly profit. For the same period a year ago, the health system had a $16 million net loss.

The health system still reported an operating loss of $4.1 million for the three months ended Sept. 30, but even that's a marked improvement from the $17.3 million loss in the first quarter a year ago. The health system finished the quarter in the black because it made nearly $8.4 million in investment income.

Revenues were $419.1 million, a 4.4 percent improvement over the first quarter a year ago, despite an 8.1 percent dip in patient discharges.

Health system officials said they were "also considering making several selective physician practice acquisitions to increase patient volumes" in the analysis released yesterday.

"We realize that we still have much work to do to improve our operations, but we are certainly on the right path," said Christopher Olivia, president and CEO of West Penn Allegheny.

 

To read more, visit the Pittsburgh Post-Gazette web site.
 

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