Butler (Pa.) Health System has reported $33.1 million in operating losses for the nine months ended March 31 on revenue of $346.4 million.
That compares with a loss of $1.2 million for the same period ending March 31, 2022, on revenue of $360 million. Expenses rose 5 percent over the previous year period.
While the system's days of cash on hand totaled 101.7, above minimal obligations, Butler Health reported (1.58) for its debt service coverage when the minimum amount is greater than 1.25.
Butler Health and Greensburg, Pa.-based Excela Health closed an affiliation agreement Jan. 1 to create a five-hospital system serving approximately 750,000 patients. Each system will retain its own financial reporting standards.