CHAMBERSBURG, Pa. - Led by an increase in patient revenues at both Chambersburg and Waynesboro hospitals, Summit Health remained financially healthy, with revenues hitting $310.4 million in 2006-07, up from $281.7 million the previous year, according to its annual report issued Tuesday.
While revenues increased 10.2 percent, operating expenses for the nonprofit were up 7.7 percent for a total of $293.2 million, the report stated. Most of the increase was in wages and salaries, which were up $10.9 million to $163.7 million.
The operating surplus from this year will be used to fund capital improvements and recruit and retain medical and nursing staff, the report stated.
Free and subsidized health care came to $25.6 million, either from those without health care who received services, or whose health insurance did not cover actual expenses, Summit Health President Norman P. Epstein said.