Radnor Township, Pa.-based Main Line Health is anticipating its second consecutive $100 million annual loss, like several other Philadelphia-area hospitals, because of growing patient volumes and rising labor and drug costs. By the end of October, the health system had lost $62 million.
Becker's has reported on 19 other hospitals that have faced closures and bankruptcy in 2022, including a Mishawaka, Ind.-based Fransican Health hospital and two Kansas City, Mo.-based Saint Luke's Health System hospitals.
The ramifications for patients include traveling farther for services and care.
The closures of hospitals and services also affects competition between facilities. The Federal Trade Commission has made several decisions recently blocking hospital and health system partnerships to avoid a monopoly on care or higher costs of care for patients.