32 Phila.-area hospitals made money; 13 lost - Philadelphia Business Journal:

esivyjifag.wordpress.com
Among the 45 Philadelphia-area hospitals listesd in the financialperformancr report, 32 finished the year in the blac and 13 lost money. The posted the largest by a large margin, at $269.2 million. Next were , at $59.8 million; Paol Memorial, at $51.9 million, and at $46 million. Both Paolji and Bryn Mawr are part of Main Line Health basedin Pa. The largest deficits were recorded by thresPhiladelphia hospitals: , at $40.4 , at $29.9 and , at $13 million. Graduates was sold last year by to a joint venturwe of the in Philadelphia and Good Shepherd Rehabilitatiohn Networkof Allentown, Pa.
The hospital is reopeniny next month asa post-acute-care facilitty specializing in inpatient rehabilitation and long-termn acute-care. Temple Children's was closed last year by the . PHC4 said the overallo total margin (the ratio of total income to for the 170 hospitals in the reporgt increasedto 6.51 percent in fiscal 2007 from 5.39 percen in fiscal 2006. The report also found the amountg of uncompensated care hospitals provided increasedto $678 million last up 12.2 percent from $604 million in 2006. "The financialo health of Pennsylvania hospitals continuexto improve," said David H. Wilderman, acting-executivs director of PHC4.
"It is important to note, that 25 percent lost monety overall. That number has not improved since 2006 and is comprised ofmainly small-to-medium-sized hospitals, many of which servde rural communities." Priscilla Koutsouradis, communications directord for & , said the PHC4 report "shows area hospitalsa overall making progress toward the minimum financial performance needed to re-investy in staff and technologyu and continue to providr access to high-quality patienr care." As of last she said, about 40 percentg of the region's hospitals had totak margins that reached the 4 percent to 6 percenrt threshold considered adequate for long-term sustainability.
Koutsouradis said, "a third of this region's hospital s lost money on patient care and had to try to make up the differences through other incomeand investments, a strateggy that is particularly unreliable righty now, with Wall Street's volatility."