AHN spokesman Dan Laurent told the Pittsburgh Post-Gazette that the shortfall in the first quarter was largely driven by one-time costs associated with the launch of an EHR system.
A decrease in patient volumes also took a toll on the system’s finances. Volumes were down 7 percent year over year in January. However, patient volume has begun to rise, and the system saw a 4 percent year-over-year increase in volume in March, Mr. Laurent told the Post-Gazette.
AHN recorded a net loss of $20.6 million in the first quarter of 2016. The system had projected a $9.4 million net loss for the period.
More articles on healthcare finance:
Weak flu season, lawsuits take toll on LifePoint’s bottom line
2 South Dakota hospitals ink agreement with CMS to keep Medicare status
Partners HealthCare’s math errors could cause 2,000 hospital layoffs statewide
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit