Children’s Hospital State’s Most Profitable In 1Q
Nine of the 10 Massachusetts hospitals owned by for-profit hospital chain Steward Health Care System lost money in the first quarter of this year, according to newly released state figures.
Quincy Medical Center, which Steward acquired in 2011, reported the system's largest loss — $5.6 million. Saint Anne's Hospital in Fall River was the only profitable Steward hospital, with earnings of $4.7 million.
The data were included in a report from the state Center for Health Information and Analysis.
The most profitable Massachusetts hospitals, according to the state, were Children's Hospital Boston, which earned $93.2 million and UMass Memorial Medical Center in Worcester, at $70.7 million.
A Steward spokesman tells The Boston Globe the company is financially stronger than the state numbers suggest because they don't reflect other revenue streams.