Philadelphia-area hospitals worried by financial data
An Inquirer analysis of financial data for 14 Philadelphia-area nonprofit hospitals and health systems found that Holy Redeemer Health System in Meadowbrook had the biggest declines in revenue and admissions. Its management said in its financial statements that the organization’s 242-bed hospital accounted for $3.4 million of $4.3 million in revenue shortfall, as patient volume fell in November and December. Just a few miles from Holy Redeemer, Abington Health, which operates Abington Memorial and Lansdale Hospitals, had the second-biggest decline in net patient revenue and the third-biggest decline in admissions.
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