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UPMC sees operating income fall as expenses rise

UPMC, Pittsburgh’s largest health care system and the biggest nongovernmental employer in the state, continued traveling on the bumpy financial path that health and hospital systems nationwide are riding, seeing operating income drop by 41% and posting $260 million in expenses than revenue in the third quarter.

It’s been a tough 2022 for the health care industry, as expenses shot up during the Covid-19 pandemic and, especially labor and supplies, haven’t really fallen. UPMC, with 40 hospitals across Pennsylvania and into western New York and western Maryland, isn’t immune to the challenges even if it didn’t suffer as much fiscally early on as other hospitals and systems due to federal relief funds directed at hospitals and nimble fiscal management.

Read more at Pittsburgh Business Times.