The loss follows the opening of its 128-bed Centegra Hospital-Huntley (Ill.) in August 2016. However, Centegra executives said the losses didn’t come from a lack of patient volume, according to the report.
Centegra spokesperson Michelle Green told Crain’s Chicago Business, “As anticipated, we started incurring operational costs six months before we opened Centegra Hospital-Huntley to orient staff and prepare the hospital to serve patients. Like other health systems throughout Illinois and the country, we have been affected by changing reimbursements and additional financial pressures.”
In a financial filing obtained by Crain’s Chicago Business, Centegra said the system’s operating loss could increase to $40 million for the fiscal year ending June 30. The loss in the first three quarters is triple what Michael Eesley, CEO of Centegra, anticipated.
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