Moody’s Investor Service downgraded Einstein Healthcare Network’s credit rating by one notch, to just above junk bond status, citing the nonprofit system’s large and unexpected loss of $23 million on an operating basis in the year ended June 30, a decline in liquidity, and uncertain state funding, writes Harold Brubaker for philly.com.

Pluses at Einstein, Moody’s said, include initiatives at Einstein Medical Center Montgomery, in East Norriton, which has gained market share since opening five years ago and is working on an alliance with the Children’s Hospital of Philadelphia to provide neonatal, newborn, pediatric inpatient, and pediatric emergency services at the facility.

Among the challenges for Einstein, which had $1.2 billion in total revenue in fiscal 2017, include lower reimbursements from insurers at Moss Rehab, which Moody’s described as “a well-regarded neck and spinal injury rehabilitation facility.”

To read the complete story click here. 

[uam_ad id=”54875″]