Crozer posts $20M operating loss in latest quarter

Crozer-Keystone Health System, which announced the elimination of 250 positions in February, had a $20 million loss from operations in the three months ended March 31, a financial disclosure showed.

The Delaware County health system had attributed the layoffs to the fact that it lost $15.7 million from July 1 through Feb. 28. The loss for the first nine months of Crozer's fiscal year was double that, at $31.6 million.

Operating revenues were down 3.6 percent in the nine-month period, compared to same period a year ago, while operating expenses were up 2.7 percent. This year's expenses included a $6 million restructuring charge related to the layoffs.

- Harold Brubaker