Philadelphia-area hospitals report higher profit margins
Profitability at hospitals in Philadelphia and its Pennsylvania suburbs improved slightly last year, but the revenue growth rate continued sliding, according to an annual report by the Pennsylvania Health Care Cost Containment Council to be released Thursday. The report, showed that the overall operating profit margin at 41 area for-profit and nonprofit hospitals edged up to 4.4 percent from 4.3 percent. Curt Schroder, regional executive for the Delaware Valley Healthcare Council, cautioned against taking much comfort from the report, which for most hospitals covers the 12 months ended June 30. In the first six months of the current fiscal year, through December, Schroder said profit "margins, both operating and total margins, have taken a pretty steep decline."
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