The University of Pittsburgh Medical Center ended fiscal year 2010 with a narrow operating margin as the hospital system prepares for years of expected slow growth, according to a Pittsburgh Business Times report.
UPMC reported an operating margin of 1.5 percent, or $240 million, on $8 billion in net patient service, insurance enrollment and other revenue for the fiscal year. The results were higher than the same period last year, which reported a margin of $212 million.
Executives said the margin is a good sign for the hospital's position in a difficult economy. Though the operating margin is below the industry standard of 6 percent, the margin is common for western Pennsylvania hospitals. CFO Robert DeMichiei said the hospital network expects it may see no growth or small growth going forward.
Read the Pittsburgh Business Times report on University of Pittsburgh Medical Center.
Read more on recent hospital finances:
-Moody's: Despite Financial Improvements in 2009, Outlook for Non-Profit Hospitals Remains Negative
-Mississippi Denies St. Dominic Hospitals' Proposed Madison Facility
UPMC reported an operating margin of 1.5 percent, or $240 million, on $8 billion in net patient service, insurance enrollment and other revenue for the fiscal year. The results were higher than the same period last year, which reported a margin of $212 million.
Executives said the margin is a good sign for the hospital's position in a difficult economy. Though the operating margin is below the industry standard of 6 percent, the margin is common for western Pennsylvania hospitals. CFO Robert DeMichiei said the hospital network expects it may see no growth or small growth going forward.
Read the Pittsburgh Business Times report on University of Pittsburgh Medical Center.
Read more on recent hospital finances:
-Moody's: Despite Financial Improvements in 2009, Outlook for Non-Profit Hospitals Remains Negative
-Mississippi Denies St. Dominic Hospitals' Proposed Madison Facility