Competition, recruitment costs slash operating income at UPMC
Increased competition from other insurers and the cost of recruiting new doctors led to a drop in UPMC?s income in the July-September quarter. Western Pennsylvania's largest hospital system reported operating income of $72.3 million, a decline of more than 50 percent from the same period a year ago, when it had operating income of $153.3 million. The system employed 3,321 doctors as of Sept. 30, up from 2,954 on Sept. 30, 2011. While admissions are declining, DeMichiei said UPMC is outperforming the trend in Western Pennsylvania, which had admissions drop 2.5 percent during the same time period.
- How Medical Debt Forgiveness Benefits Hospitals
- Leapfrog Hospital Safety Scores 'Depressing'
- Patient Harm Data to Remain on Medicare's Hospital Compare Site
- Quiet ORs Better for Patient Safety
- Tavenner Confirmed as CMS Administrator
- Healthcare Leaders Sound Off on Organized Labor
- Building a Better Healthcare Board
- Esther Dyson's Population Health Dream
- CMS Seeks to 'Rapidly Reduce' Medicare Spending with $1B in Grants
- Rural Healthcare Can Entice the Best and Brightest