Unaudited financial statements at West Penn Allegheny Health System show that the system overstated its patient revenue by $67 million over the last three fiscal years. This year alone, the Pittsburgh-based system's revenue was inflated by $48.5 million because of "mistakes estimating contractual allowances, bad debt and expected patient revenue." Two years ago, that number was $13.1 million, and last year that number was $5.4 million.
The system owns five hospitals, and lost $93.9 million on operations revenue of $1.5 billion for this year. In July, officials for West Penn said it would write off the errors.
For more:
- check out this Modern Healthcare article