Radnor Township, Pa.-based Main Line Health is anticipating its second consecutive $100 million annual loss as Philadelphia-area hospitals and health systems continue to face economic struggles, The Philadelphia Inquirer reported Dec. 12.
Through October, Main Line had already lost $62 million.
Main Line is one of many Southeastern Pennsylvania-area systems feeling the economic crunch from rising labor and drug costs, increasing number of sick patients and inflation.
Philadelphia-based University of Pennsylvania Health Systems and Children's Hospital of Philadelphia were the only two nonprofit health systems in the region to report operating gains in July, August and September.
"We are in crisis," Main Line CEO Jack Lynch told The Inquirer, speaking not just of Main Line, which remains financially strong enough to absorb losses, according to The Inquirer, but of the entire hospital industry.
"This is all about access to care," he said. "When health systems in this country have financial struggles, access to care becomes impacted. Look at what happened at Hahnemann. Look at what happened with the Tower closures. You could look at what's going on with the Crozer closures."