Higher expenses and less investment income contributed to the losses in the third quarter. In the nine months ended March 31, 2012, WPAHS lost a cumulative $75.7 million compared with a net loss of $20.3 million in the first nine months of 2011.
Net patient service revenue in the first nine months of FY 2012 also decreased 2.2 percent to $1.18 billion. WPAHS executives said there was a 7.7 percent decline in acute inpatient discharges, most of which have come at Western Pennsylvania Hospital.
This past October, WPAHS received a $100 million cash infusion from Pittsburgh-based health insurer Highmark. Last year, Highmark announced it would acquire WPAHS, but the deal is still undergoing regulatory and legal review.
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