West Penn Allegheny Health System sustains $3.6 million quarterly loss
Financially strapped West Penn Allegheny Health System on Tuesday reported a $3.6 million operating loss for the first three months of this fiscal year.
Results of the first quarter, which ended Sept. 30, included $3 million in restructuring costs associated with the consolidation of flagships West Penn Hospital in Bloomfield and Allegheny General Hospital in the North Side.
Officials said losses were offset by a $9.5 million gain from the sale of four outpatient dialysis clinics to DaVita Inc. The clinics are in the North Side, Moon, New Kensington and Somerset. They will continue to operate in affiliation with the system.
- CEO Exchange: Preparing for Population Health
- Advocate, NorthShore Deal Would Create 16-Hospital System
- 3 Strategies for Retaining Millennial Employees
- Better HCAHPS Scores Protect Revenue
- Power of price: In South FL and the nation, healthcare costs often are shrouded in secrecy
- Narrow Networks Cut Costs, Not Quality, Economists Say
- Two NY hospitals to offer free hip and knee replacement surgeries for qualifying patients in December
- Hospital mergers may lead to higher prices
- CEO Exchange: Pressure is On to Partner, Drive Quality
- Healthcare data of 1 million NJ patients compromised since 2009