In a challenging year for hospitals across Southeastern Pennsylvania, Jefferson Abington Hospital stood out as the suburb’s most profitable medical center, writes John George for the Philadelphia Business Journal.
The hospital posted $79.3 million in net income for fiscal year 2024.
The latest report from the Pennsylvania Healthcare Cost Containment Council revealed that nearly half of the region’s general acute care hospitals operated at a loss, despite increases in patient volumes and surgical procedures. Of the 36 hospitals reviewed across Philadelphia and its suburbs, 19 finished the year in the black while 17 reported losses.
Jefferson Abington’s strong showing came as many medical centers continue to battle rising labor costs, supply chain issues, and Medicaid funding cuts. Statewide, 32% of acute care hospitals posted losses. Still, the average operating margin increased to 6.8%, up from 2.26% in 2023.
The largest profit was reported by the Hospital of the University of Pennsylvania, at $358.1 million.
For a deeper dive into the region’s hospitals and their margins, visit the Philadelphia Business Journal.
