TribLIVE

| Home


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

Jefferson Regional able to staunch loss in 3Q

Email Newsletters

Click here to sign up for one of our email newsletters.

On the Grid

From the shale fields to the cooling towers, Trib Total Media covers the energy industry in Western Pennsylvania and beyond. For the latest news and views on gas, coal, electricity and more, check out On the Grid today.

Daily Photo Galleries

Wednesday, Nov. 7, 2012, 12:01 a.m.
 

Jefferson Regional Medical Center on Tuesday reported an operating loss of $683,000 in the July-September quarter, an improvement during the same period last year.

The 369-bed hospital, which is in the process of being acquired by Highmark Inc., had an operating loss of $1.1 million last year.

The operating results do not include investment income and donations, which the Jefferson Hills hospital reports as operating revenue in the income statement it makes public for its bond investors.

With investment income and donations, Jefferson Regional had net income of $4.4 million, improved from a net loss of $12.5 million the year before.

Hospital officials declined to comment on the results.

Jefferson Regional in June announced a deal with health insurer Highmark to be acquired. In exchange to control of the hospital's board of directors, Highmark will give Jefferson Regional's foundation $75 million, guarantee the hospital's about $200 million in pension and debt liabilities, and provide up to $100 million for facility improvements.

Highmark is creating a $1 billion health system to compete with UPMC, the dominant hospital network in Western Pennsylvania.

Jefferson Regional had net patient revenue of $63.2 million, up 3 percent from $61.6 million the year before.

Hospital discharges fell by 14 percent in the quarter to 3,605. Outpatient visits jumped 25 percent to 62,228.

Alex Nixon is a Trib Total Media staff writer. He can be reached at 412-320-7928 or anixon@tribweb.com

Add Alex Nixon to your Google+ circles.

Subscribe today! Click here for our subscription offers.

 

 

 


Show commenting policy

Most-Read Stories

  1. Veteran Morton turns in solid performance in win over Marlins
  2. Tesla home battery at $7K, partnered with rooftop solar system, may help reduce power bills
  3. Riverhounds goalie has shot at playing for Jamaican National Team
  4. Pirates notebook: Morton’s return to Pirates means Liz leaves
  5. Cops: Man shoots 11-year-old with BB gun; boy is critical
  6. With space to spare, Pittsburgh International draws new corporate jet carrier
  7. Previewing the the 2015 WPIAL baseball championships
  8. Designs for special needs an untapped market
  9. Doctors, hospitals get more time to convert to electronic health records
  10. Shuttered Tenn. cemetery opens for Memorial Day
  11. After Indianapolis 500 win, Team Penske starting to pull away