Einstein's new Montgomery hospital beat targets

Posted: February 24, 2013

Einstein Healthcare Network's new, $350 million hospital in Montgomery County beat most of its operating targets during its first three months of business, according to a report that bond investors released Thursday.

Adult admissions at Einstein Medical Center Montgomery totaled 2,187 since it opened Sept. 29. That is 14 percent more than projected. Births at the new facility totaled 373 - 40 percent more than budgeted.

The results are not the product of cautious goal-setting, an Einstein executive said. "We are doing better than expected in terms of attracting patients," Beth Duffy, chief operating officer of the facility in East Norriton Township, said Friday.

As a start-up, the 146-bed Einstein Montgomery lost money in the three months ended Dec. 31, but the operating loss of $11.54 million was $2 million less than expected, the bond report said.

Overall, the Einstein Healthcare Network, which includes the 772-bed Einstein Medical Center Philadelphia, reported an operating loss of $18.7 million for the six months ended Dec. 31.

A bright spot financially was a 31 percent gain in operating profit, to $9.7 million from $7.3 million, at Einstein's Moss Rehab division in Elkins Park.


Contact Harold Brubaker at 215-854-4651 or hbrubaker@phillynews.com.

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