Allegheny Health Network reported a net gain of $2.4 million in the fourth quarter of 2015 after posting a $31.5 million loss in the previous quarter. The Pittsburgh-based health system ended 2015 with a net loss of more than $39 million, according to the Pittsburgh Business Times.
Allegheny Health Network reported total revenue of more than $2.6 billion in 2015, but a $36.5 million operating loss took a toll on its finances last year.
Although Allegheny Health Network ended 2015 with a net loss, last year was not without some positives for the health system.
"2015 was another year of considerable progress for Allegheny Health Network, marked by continuing significant investments in our facilities, technology and capabilities, expansion of programs into new markets, including underserved communities, active recruitment of physicians, and continuing improvement in our operations," said Allegheny Health Network spokesman Dan Laurent in a statement quoted by Pittsburgh Business Times.
More articles on healthcare finance:
Oklahoma hospital abruptly closes
Tufts Medical Center reports $15.4M operating loss
Bristol Hospital operating income narrows to $532k