Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Ahn Reports $36.46M Operating Loss for 2015

Newspaper article Pittsburgh Post-Gazette (Pittsburgh, PA)

Ahn Reports $36.46M Operating Loss for 2015

Article excerpt

The seven-hospital Allegheny Health Network recorded a $36.46 million operating loss in 2015, including a $3.94 million loss in the final quarter, a new filing shows.

Still, AHN spokesman Dan Laurent summarized 2015 as "another year of considerable progress" for the three-year-old network, noting that the unaudited numbers bettered projections made last fall that had forecast a $48 million loss for the year and a fourth quarter loss of $10.1 million.

When donations and investment income are included, AHN finished the year in positive territory in the fourth quarter with a $2.43 million profit while recording a $39 million net loss for the year.

"We still have a lot of hard work to do, but we remain committed to and focused" on a strategy outlined in the Pittsburgh health system's corrective action plan "to continue to meet, if not exceed, expectations," said Mr. …

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