Tower Health, the owner of Pottstown Hospital, could be on the upswing. The Berks County-based health system cut its operating deficit by more than 70 million, which is down 33 percent compared to 2022, writes John George for the Philadelphia Business Journal.
The health system also saw a slight revenue increase and predicts it will be returning to profitability by next year.
“We are not quite where we strive to be,” Tower Health CEO P. Sue Perrotty wrote in a memo sent to the health system’s staff, “but we have made amazing progress.”
The health system has seen a decline in patient revenue after selling Chestnut Hill Hospital. It also closed Jennersville Hospital in West Grove in 2021, and Brandywine Hospital in at the beginning of 2022.
There is a pending agreement to sell Brandywine Hospital to Penn Medicine to transform it into a VA hospital.
Read more about the healthcare system’s plan to return to profitability amid hurdles and challenges in the Philadelphia Business Journal.
A virtual tour of Pottstown Hospital.
