University of Pittsburg Medical Center saw a $144 million increase to its operating revenue for the first six months of fiscal 2011 — rounding out to $4.2 billion and an operating margin of 3.3 percent, according to a Pittsburgh Business Times report.
Helping the revenue gain was a $21 million Internal Revenue Service settlement, which added $10 million in accrued interest to UPMC's $3.2 billion investment portfolio.
UPMC also saw a 13 percent increase in outpatient revenue and 20 percent increase in physician revenue. It plans to add more than 1,300 jobs during the current fiscal year and its recent acquisition of Hamot Medical Center in Eerie, Penn., is expected to add at least 10,000 members to UPMC's insurance arm.
Read the Pittsburgh Business Times report on UPMC's increased operating revenue.
Read more about UPMC:
- Pennsylvania's Hamot Medical Center Officially Part of UPMC
- UPMC Presbyterian Enforces Infection Control Through Fines, Disciplinary Measures
- UPMC Plans Expansion Into China
Helping the revenue gain was a $21 million Internal Revenue Service settlement, which added $10 million in accrued interest to UPMC's $3.2 billion investment portfolio.
UPMC also saw a 13 percent increase in outpatient revenue and 20 percent increase in physician revenue. It plans to add more than 1,300 jobs during the current fiscal year and its recent acquisition of Hamot Medical Center in Eerie, Penn., is expected to add at least 10,000 members to UPMC's insurance arm.
Read the Pittsburgh Business Times report on UPMC's increased operating revenue.
Read more about UPMC:
- Pennsylvania's Hamot Medical Center Officially Part of UPMC
- UPMC Presbyterian Enforces Infection Control Through Fines, Disciplinary Measures
- UPMC Plans Expansion Into China