The latest quarterly financial report on the West Penn Allegheny Health System shows the Pittsburgh-based health system may be digging out of its financial hole.
The unaudited report released Tuesday shows WPAHS lost $2 million on operations for the October-December period, compared with a $33 million loss for the same quarter a year earlier.
Meanwhile, for the first six months of the current fiscal year ending June 30, West Penn Allegheny's net revenue loss was $13 million, compared with a loss of $55 million a year earlier.
The health system had 65.6 days cash on hand as of Dec. 31.
Overall, the report "shows that significant progress continues to be made" to strengthen the finances of the region's second-largest health system, said spokesman Dan Laurent. At the same time, inpatient discharges -- the number of patients admitted and then later discharged from the system's facilities -- dropped from 27,845 in the last six months of 2012 to 27,006 discharges in 2013.
WPAHS, now part of insurer Highmark's Allegheny Health Network, includes Allegheny General Hospital on the North Side, West Penn Hospital in Bloomfield, Forbes Regional Hospital in Monroeville, Allegheny Valley Hospital in Natrona Heights and Canonsburg Hospital.
UPMC, the region's largest health system, is scheduled to release its quarterly financials Thursday.
Steve Twedt: email@example.com or 412-263-1963.
Steve Twedt: firstname.lastname@example.org or 412-263-1963. First Published February 4, 2014 3:11 PM