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Why Orlando Health lost $21.6M last quarter

Orlando Business Journal, November 27, 2012
Orlando Health ended the year in the black, making $82.1 million for fiscal year 2012. Orlando Health is in a good overall financial position, with total assets going up over the year, but the hospital system actually posted a loss during the last two quarters: $689,000 in the fiscal fourth quarter of 2012 and $2.9 million in the third fiscal quarter. The hospital system is laying off employees to save costs and medical services could also be at risk of closure. That's because the system lost $21.65 million on operations.