The Philadelphia region’s smallest health systems had the biggest losses in the nine months that ended March 31
Beyond the smallest systems, there were signs of gradual financial improvement at places like Main Line Health. CHOP was the most profitable.
The Philadelphia region’s smallest health systems had the biggest operating losses in the nine months that ended March 31, according to an Inquirer review of the systems’ latest financial statements to bond investors.
Two of those three small systems, Grand View Health and Doylestown Health, have either been acquired by a larger system or have a pending deal for such an acquisition. The third, Redeemer Health, sought a partner three years ago, but has not secured a deal.
The $53 million, or 26%, loss at Bucks County’s Grand View Health was the biggest loss overall and as a percentage of revenue.
Montgomery County’s Redeemer Health followed with a $33 million, or 10%, operating loss.
Doylestown reported a $24 million, or 7% loss.
Beyond the small systems seeing persistent losses, there were signs of recovery at larger providers that had logged years of losses.
Main Line Health had a tiny $86,000 operating profit in the nine-month period, erasing what had been an $8.7 million loss in the first six months of fiscal 2025.
Tower Health reported a $4.2 million operating profit in the nine months that ended March 31, but that included a $14.7 million gain related to a change in the way the nonprofit based in Berks County values bills from insurers and others that it has not yet collected.
Children’s Hospital of Philadelphia was the region’s most profitable health system. It reported a $196 million, or 5%, operating profit on $3.7 billion in revenue.
ChristianaCare, Delaware’s largest health system, logged a $57 million operating profit. It had $2.5 billion in revenue. The nonprofit is expanding in Southeastern Pennsylvania with three micro-hospitals, and it recently won a bankruptcy auction for five Crozer Health outpatient centers in Delaware County.
Thomas Jefferson University, which owns Jefferson Health, edged close to break even in the first nine months of fiscal 2025, with a $29 million loss on $11.3 billion in revenue.
The University of Pennsylvania Health System had $8.8 billion in revenue and a $163 million operating profit.
Temple University Health System lost $10.4 million on $2.3 billion in revenue.