The finances of the Philadelphia region's nonprofit health systems appear to be stabilizing, though at a lower level of profitability than before the pandemic.
The finances of the Philadelphia region's nonprofit health systems appear to be stabilizing, though at a lower level of profitability than before the pandemic.
Children’s Hospital of Philadelphia was one of just three health systems in the Philadelphia region to be profitable in the first nine months of fiscal 2024.The biggest nonprofit health systems in the Philadelphia region mostly reported strong revenue growth in the nine months that ended March 31, their latest reports to municipal bond investors show.topped the list for revenue growth, with nearly 10% growth. CHOP reported total revenue of $3.35 billion, up from $3.05 billion the previous year.
Still, CHOP was the only of the three reporting weaker operating performance this year. CHOP’s operating income fell to $56 million from $101 million.systems lost less money. The seven other systems in The Inquirer’s roundup all reported small losses this year.
Those with operating losses were Inspira Health, AtlantiCare, and Cape Regional, which is being acquired by Cooper. Capital Health and Shore Medical Center have not yet posted their 2023 audited financial statements on their websites.
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