Two out of three West Virginia hospitals lost money on operations in fiscal 2002, and more than two in five lost money overall, according to a preliminary report from the West Virginia Hospital Association. The data cover each hospital's fiscal 2002, regardless of whether they coincide with the calendar year. In total, West Virginia's hospitals lost $27.6 million in fiscal 2002. A 5.3% drop in admissions among commercial and self-pay patients trimmed the positive margins hospitals made on nongovernmental patients to 7.2% from 11.2% in 2001, which wasn't enough to offset losses on Medicare, Medicaid and state-employed patients, the hospital association said. The 63 hospitals that reported results also took about $50 million in accounting adjustments related to investment losses and shortfalls in pension funds. -- by Vince Galloro
W.Va. hospitals suffer losses as admissions fall
Send us a letter
Have an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print.