Daily News | Main Line Health sees more patients, has bigger operating loss in nine months ended March 31
Patient admissions, emergency department visits, and outpatient surgeries are up solidly at Main Line Health, according to the latest financial update from the not-for-profit health systemBut the financial picture remains gloomy.
The system’s revenue rose 4.5%, to $1.64 billion from $1.57 billion in the nine months that ended March 31.Main Line officials were not available to comment Friday, but last November the organization’s CEO, Jack Lynch, said. Lynch blamed years of low Medicare rate increases for a large part of the persistent and widespread losses across the health-care industry.
Standard & Poor’s lowered Main Line’s rating to AA- from AA, citing the health system’s “sizable” operating loss in fiscal 2022 and noted that Main Line’s financial reserves had been shrinking but remain strong, thanks in part to affiliated foundations that were worth $579 million last June.
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