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Lancaster General Hospital's surplus drops again

Written by The Associated Press | Jul 29, 2013 9:12 AM
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(Lancaster) -- Lancaster General Hospital's surplus has dropped for a fifth straight year even though the central Pennsylvania facility's revenues rose to a record $857.3 million. The hospital's $60.3 million surplus and revenues are reported on federal tax documents filed with the IRS for tax year 2012. The surplus has fallen five straight years since hitting its peak at $136.8 million for 2007.

The hospital says that's not surprising because more patients are using government health care such as Medicare or Medicaid, which doesn't pay the hospital as much for services as private insurers. Also, demand for inpatient care is dropping and the costs of operating are rising, with the hospital paying $417 million in salaries, compensation and other benefits.

Published in Lancaster, News

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