West Penn Allegheny narrows loss
West Penn Allegheny Health System narrowed its loss slightly in the October-December quarter last year.
But Pittsburgh's second-largest hospital network still managed a net loss $30.3 million, compared with a net loss of $34.1 million in the same quarter the year before.
Its loss on operations also was reduced in the quarter, which is the second of its fiscal year, to $33.1 million, compared with losing $36.8 million on operations the year before.
Highmark Inc., the state's largest health insurer, is trying to buy West Penn Allegheny as it builds a new integrated health system to compete against UPMC.
As part of its strategy to turn around the finances of West Penn Allegheny, which owns five hospitals in the Pittsburgh region, Highmark funded the reopening of West Penn Hospital in Bloomfield and helped the system recruit new physicians.
Both those moves brought in new patients, which helped West Penn Allegheny boost revenue to $385.8 million during quarter, up from $365.4 million the year before, the system said. Increased reimbursement rates from insurers also helped increase revenue.
Yet competition from UPMC in Monroeville continues to reduce patient volume at Forbes Regional Hospital, the system said. UPMC opened a new $250 million hospital about a mile away from Forbes last summer.
Alex Nixon is a staff writer for Trib Total Media. He can be reached at 412-320-7928 or email@example.com.
Add Alex Nixon to your Google+ circles.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Consumer spending climbs as job gains boost incomes
- Cranberry-based Prodigo Solutions: Hospitals can reduce high supply costs
- NHTSA probes sudden acceleration complaints in Toyota Corollas
- With acquisition, PNC set to enter IPO market
- Another card system hack at Supervalu, Albertsons
- Stocks decline on overseas political troubles
- State cites Patriot Coal in W.Va. mine accident
- Right apps enable printing from phone or tablet
- Jobless baby boomers struggle to get back in game
- Hospitals turn to technology to tear down language barriers with patients
- CMU researchers track devices that keep healthy lifestyles in reach