TribLIVE

| Business


 
Larger text Larger text Smaller text Smaller text | Order Photo Reprints

West Penn Allegheny narrows loss

Friday, March 1, 2013, 3:45 p.m.
 

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 anixon@tribweb.com.

Add Alex Nixon to your Google+ circles.

 

 

 
 


Show commenting policy

Most-Read Business Headlines

  1. 2 top technology officers leave UPMC
  2. EDMC reaches debt-restructuring deal with creditors
  3. Banks Gas Services finds success in jobs outside shale industry
  4. Sprint cancels Framily, rolls out new data pricing plan
  5. Highmark denies premiums in federal insurance marketplaces affected by level of competition
  6. Hewlett-Packard recalls power cords
  7. Argentina kicks out BNY Mellon
  8. Feds close probe into Camry hybrid brake problems
  9. Burger King to buy Tim Hortons for $11B, move headquarters to Canada
  10. DQE Communication inks data deal with Iron Mountain
  11. Hotels, restaurants lead job additions in Pittsburgh region
Subscribe today! Click here for our subscription offers.