UPMC growth adds expenses, profit falls
UPMC treated more patients and signed up more insurance customers in the last three months of 2011, which pushed revenue for the nonprofit up 15 percent. But growth came at a cost, as Western Pennsylvania's dominant hospital system on Wednesday reported lower operating income for the quarter, because of rising expenses. Robert DeMichiei, UPMC's chief financial officer, said that UPMC is growing even as the overall market for medical procedures is shrinking.
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