Tenet Healthcare Corp., Santa Barbara, Calif., said it will close Medical College of Pennsylvania Hospital in Philadelphia by March 31 because the hospital has sustained losses as high as $5 million per month over the last year. Tenet said cost-cutting actions have not stemmed the losses, which it blames on a tough payer market, the price of medical malpractice insurance and state budget constraints. If the closure is completed, Tenet will have reduced its Philadelphia-area operations to five hospitals from eight hospitals in a year. Tenet closed 200-bed Parkview Hospital in Philadelphia in September and sold 158-bed Elkins Park (Pa.) Hospital to Einstein Healthcare Network, Philadelphia, in November. Including MCP Hospital and a Houston hospital that is pending a sale, Tenet owns or operates 102 hospitals. -- by Vince Galloro
Tenet to close Philadelphia hospital
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