Pittsburgh healthcare giant UPMC reported a $103 million operating loss in the first quarter of the year.
This is now the fifth-straight quarter that UPMC has reported an operating loss.
However, the operating loss for UPMC is an improvement compared to their losses in the first quarter of 2023. That three-month period saw a $203 million operating loss.
UPMC officials say “ongoing pressures in the labor and supply markets as a result of inflation,” as well as lower Medicare and Medicaid underwriting margins caused the losses.
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