Hershey, Pa.-based Penn State Health recent operating losses continued to cascade, reporting a $125.6 million such loss in the period ending March 31 on revenue of $2.8 billion.
The five-hospital system reported a $110.4 million operating loss in the period ending Dec. 31. The nine-month loss compared with operating income of $28.6 million in the same period ending March 31, 2022.
Expenses rose almost 10 percent for the system, which saw some of its bonds downgraded to an "A" rating April 6 by S&P Global.
Improved non-operating income offered some relief, with an overall loss totaling $101.8 million compared to net income of $10.5 million in the same period ending March 31, 2022.