Flemington, N.J.-based Hunterdon Healthcare System suffered an over 200 percent drop in net income in the nine months ending Sept. 30, compared to the same period last year, reporting a net loss when comparing all revenue with expenses of $30.6 million.
When losses on investments and pensions were added, that loss rose to $36.2 million, compared with an overall $14.7 million gain in 2021 — a decline of almost 350 percent. The health group, the vast majority of whose revenue comes from the Hunterdon Medical Center system, reported an unspecified unrealized loss of $42.3 million during the period.
Hunterdon enjoyed some good news in recent weeks with a Leapfrog "A" safety rating and a significant drop in its Medicare readmissions fines for 2022, which declined from 2.29 percent to 0.12 percent.