In an update it provided to health system employees in a written statement last week, Tower Health CEO Clint Mathews said that no decision has yet been made on the fate of its hospitals in Chester and Montgomery counties, writes John George for the Philadelphia Business Journal.
“There are many complex and important elements that we must thoughtfully consider,” said Matthews. “The board’s decisions will be made following a careful, thorough process that we expect to continue over the coming months. We are determined to get this right and must take into account the many factors shaping our future as we work to build a stronger health system.”
For fiscal 2020, the health system posted an operating deficit of $442 million as a whole, after posting a loss of $178.8 million in the previous year.
According to Tower Health executives, the COVID-19 outbreak caused revenue losses and increases in expenses that were a major factor in the downturn.
Read more about Tower Health at the Philadelphia Business Journal by clicking here.