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Format: 04/16/2014
Format: 04/16/2014

News

Pittsburgh Tribune-Review: West Penn Allegheny Health System records profit

Tuesday, December 1st, 2009

By Rick Stouffer

Tribune-Review

A sharp increase in investment income was key to West Penn Allegheny Health System on Monday reporting its second consecutive quarterly profit.

The region's second largest health care system reported a net profit of $4.3 million for the initial three-month period of fiscal 2010, which ended Sept. 30, compared to a $16 million loss for the three months ended Sept. 30, 2008.

The results followed the $2.1 million net profit reported by West Penn Allegheny for the final three months of fiscal 2009, which ended June 30.

"We realize that we still have much work to do to improve our operations, but we certainly are on the right path," CEO Christopher T. Olivia said, in a statement.

While recording an overall profit, West Penn Allegheny continued to lose money from patient operations. The health care system lost more than $4.1 million during the first quarter, but that was down substantially from an operating loss of $17.3 million in the year-ago period.

To read more, visit the Tribune-Review web site.

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