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A new report highlighting the twin pressures hospitals have faced over the last 18 months shows that as reimbursement delays and denials increased and cash and investments decreased, operating expenses have risen sharply.
Westmoreland County-based Excela Health, which merged with Butler Health System in January to form Independence Health, lost $36.2 million in the fiscal year ending June 30, according to a new disclosure report. That’s $15 million more than losses reported in the previous fiscal year ending in June 2022, when it