Thomas Jefferson University reports $83.5M Q3 loss, health system patient volumes up

Philadelphia-based Thomas Jefferson University, including Jefferson Health, reported a multimillion-dollar loss in the third quarter ending Sept. 30.

Five things to know:

1. Thomas Jefferson University reported an $83.5 million loss for the quarter, down significantly from a $12.8 million gain in the same period last year.

2. Thomas Jefferson University reported $29.9 million in operating revenue. Clinical operations reported an $87.3 million loss from operations, and the insurance operations reported a $7.1 million gain for the quarter.

3. The organization reported a -3.7 percent operating margin, compared to 0.9 percent for the third quarter last year.

4. Hospital inpatient admissions grew 30.4 percent year over year to 39,463 cases for the quarter. Outpatient observations were also up 21.6 percent to 11,744 cases. Outpatient visits were up 36 percent year over year to 524,200 visits.

5. Days cash on hand for clinical operations dropped by nearly 11 days since the start of the fiscal year to 158.5 days due to nonoperating investment losses and repaying Medicare advance payments.

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