Partners HealthCare suffers $17.5M operating loss in Q2

Boston-based Partners HealthCare is recovering from a rough winter in more ways than one, according to Boston Business Journal.

While record breaking amounts of snow piled up on the Boston streets, expenses piled up at Partners. The system reported $2.8 billion in overall expenses in the second quarter ending March 31, up 6 percent from Q2 last year, according to the report.

Revenues for Q2 totaled $2.78 billion, up from $2.66 billion for the same period of 2014. However, climbing expenses, shifts in payer mix and the winter weather that kept many patients from getting to appointments led to a $17.5 million operating loss for the organization.

The loss was partially offset by Partners' insurance plan, the Neighborhood Health Plan, which brought in a $1 million operating gain. However, according to the Boston Business Journal, this gain is primarily the result of an accounting adjustment.

 

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