Revenue, admissions increase at UPMC
PITTSBURGH — The University of Pittsburgh Medical Center said revenue for the first quarter of the current fiscal year rose by $352 million compared to the same period a year ago.
UPMC announced the results in a release Thursday. The hospital group said revenues increased to $2.4 billion for the first three months of the 2012 fiscal year.
Earnings grew from $190 million to $253 million, outpatient revenue grew by 33 percent, total hospital admissions and observations grew by 13 percent, and physician revenue increased by 2 percent. The number of physicians employed by UPMC grew by nearly 6 percent.
UPMC also announced plans to build a new $294 million research facility in Pittsburgh. It’s scheduled to be completed in 2014.
