Lancaster General Hospital Surplus Soars After Several Years Of Decline

Map of Pennsylvania highlighting Lancaster County (Photo credit: Wikipedia)

After five straight years of shrinking “profits,” Lancaster County’s biggest nonprofit hospital turned things around last year — due in large part to cost cutting.

Lancaster General Hospital’s surplus, or revenues over expenses, ballooned to $92.6 million in 2012-2013, up 54 percent from the previous year and the highest total since 2007-2008, according to the hospital’s IRS Form 990, released earlier this summer.

The hospital’s parent firm, Lancaster General Health, inched closer to becoming a billion-dollar organization in 2012-2013, with total revenues of $919.8 million and a surplus of $100.7 million.

Read more: http://lancasteronline.com/news/local/lgh-surplus-soars-after-several-years-of-decline/article_2a806084-2f92-11e4-8770-001a4bcf6878.html

What Lancaster County’s 4 Hospitals Made In Profits In 2012

Map of Pennsylvania highlighting Lancaster County (Photo credit: Wikipedia)

The bottom line is starting to look healthier for local hospitals, which saw profits of between $7 million and $65 million in 2012 after some recent lean years.

All four hospitals saw an increase in profits, with two sister hospitals here seeing the biggest leap, according to a new state report.

All of the hospitals also had robust profit margins, according to the report by the Pennsylvania Health Cost Containment Council.

One local hospital official, however, said things might not be as good as they appear, due to the fact that the data included in the report does not include losses from hospital-owned physician practices.

Read more: http://lancasteronline.com/article/local/849894_What-Lancaster-County-s-4-hospitals-made-in-profits-in-2012.html#ixzz2TQB2Ff8W

Hospital Charges A Mystery To Many

If you need hip replacement surgery, you will face a wide range of charges here, depending on the hospital you choose.

Lancaster Regional Medical Center charged the most for major joint replacement surgery, $60,434, of the four hospitals here, according to a recent federal report on 2011 charges.

Across town, Lancaster General Hospital charged the least, $37,761, about $23,000 less than Regional.

But hang on to your crutches, patients.  There’s more.

Though LGH charged the least, Medicare, the federal insurance for the elderly paid it the most of all the hospitals here, $13,400.

Confused yet? Join the club.

Read more: http://lancasteronline.com/article/local/848413_Hospital-charges-a-mystery-to-many.html#ixzz2T2HQPO3o