Lancaster General Hospital: Profits Dip But Hosptial Remains 6th Most Profitable Hospital In PA

Lancaster General Hospital showed a $66.6 million profit for the fiscal period from July 1, 2009 to June 30, 2010.  Only five hospitals in Pennsylvania showed higher profits in the 2009-2010 fiscal year, they were: Thomas Jefferson, CHOP, University of Penn, Lehigh Valley and UPMC –Presbyterian Hospital.  For fiscal year 2006-2007 Lancaster General Hospital showed a profit of $136.8 million.  Salaries and benefits were the number one cost that contributed to lower profits.  Pension expenses were the main culprit.  Lancaster General’s profit margin is 7 percent.  The state average is 4.5 percent.

Lancaster General contributes significantly to the City of Lancaster and the Lancaster City School District.  Each entity receives about $1.35 million a year.  According to Mayor Gray, Lancaster General’s tax contribution equals three-quarters of a mill.  In addition to taxes, Lancaster General gives well over a half-million dollars in grants to various local organizations and provided $83.3 million in charity care for the 2009-2010 fiscal year.

Lancaster General Health is a not-for-profit regional healthcare system with a reputation for excellence. Located in Lancaster,PA, Lancaster General Health has a 600 bed Magnet Hospital as its cornerstone with multiple outpatient facilities.  Twice designated a Magnet hospital for clinical excellence, LGH was named one of America’s 100 Top Hospitals, nine of the past 11 years.  LGH has been recognized regionally and nationally for its intensive care unit and cardiology and orthopedic services.  Other key specialty services include obstetrics, open-heart surgery, neurosurgery and trauma.  Lancaster General Health system is the county’s largest employer with 6,693 employees.  LGH was named as a 100 Best Places to work in PA – the last three years.

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