The Pennsylvania Healthcare Cost Containment Council has published the first of three reports on the financial conditions of the state’s hospitals, and it shows 51 percent of them had a negative operating margin in fiscal 2023 and 46 percent posted a negative total margin. Operating margins decreased 2.11 percentage points, from 4.37 percent to 2.26 percent.
The data for the Indiana Regional Medical Center shows net patient revenue up $4 million from 2022’s revenue, to $190 million. Total operating expenses were up $10 million, to $195 million. IRMC’s operating margin fell from 6.16 percent to 4.96 percent.
The total patient care for which IRMC was uncompensated increased 1.47 percent. Medicare patients accounted for 56.93 percent of IRMC’s patient care and medical assistance paid for 10.27 percent.
The Healthcare Cost Containment Council, which goes by “PHC4”, is an independent council formed by the state in 1986. It’s issued its reports on hospital fiscal health since 1989.
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