Crozer-Keystone Health System, which announced the
elimination of 250 positions in February, had a $20 million loss from
operations in the three months ended March 31, a financial disclosure showed.
The Delaware County health system had attributed the layoffs
to the fact that it lost $15.7 million from July 1 through Feb. 28. The loss
for the first nine months of Crozer's fiscal year was double that, at $31.6
million.
Operating revenues were down 3.6 percent in the nine-month
period, compared to same period a year ago, while operating expenses were up
2.7 percent. This year's expenses included a $6 million restructuring charge
related to the layoffs.
Source: Philly.com
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