Hospital officials attributed the loss to a $70.7 million reduction in estimated property value of West Penn Hospital in Bloomfield, Pa., and the former Suburban General in Bellevue, Pa. The decrease in value was related to the closure of emergency departments in both hospitals.
The system’s CEO said he remains hopeful about the hospital networks financial future and feels as though the system is “moving in the right direction,” according to the report.
Last week, the system announced it would cut 400 employees due to the consolidation of its two city-based hospitals.
Read the Pittsburgh Tribune-Review about West Penn Allegheny Health System’s financial results.
Read more about West Penn Allegheny:
–Struggling West Penn Allegheny Focuses on Urgent Care, Outpatient Centers
–Hospital Advisory Board Settles Suit Against Closure of Pennsylvania’s Suburban General
