Allegheny Health Network, a seven-hospital nonprofit system in Pittsburgh, expected to record an operating loss of $937,000 in the third quarter of 2016. However, the system ended the quarter with an operating loss of $17.6 million after accounting for high-than-expected expenses, according to TribLive.
AHN posted third-quarter revenues of about $712 million, which was more than the $695 million in revenues the system expected to record. However, increasing expenses offset the revenue gains.
Regarding the system's financial results for the third quarter, Dan Laurent, an AHN spokesman, told TribLive, "We continue to work diligently on expenses management and have implemented dozens of initiatives across the organizations designed to generate substantial operating improvements over the next 12-15 months."
Formed in 2013 by Pittsburgh-based Highmark Health, AHN serves 29 Pennsylvania counties and portions of New York, Ohio and West Virginia.
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