Lehigh Valley Health Network posts $32.9-million in income
Lehigh Valley Health Network (LVHN) operating income for fiscal year 2013, which is reinvested in programs, services, facilities and technology, was $32.9 million, or 2.1 percent of total revenues.
The health network's operating margin in fiscal year 2012 was $82.9 million, or 5.5 percent of total revenues.
Ronald W. Swinfard, MD, LVHN president and chief executive officer, told the LVHN board of trustees, colleagues and community members at LVHN's annual meeting attended by 200 in the auditorium at Lehigh Valley Hospital - Cedar Crest, Salisbury Township.
LVHN provided $326 million in community benefit during fiscal year 2013, a 30 percent increase over fiscal year 2012.
The total includes health clinics, support groups, free or reduced-cost care for which the not-for-profit charity is not reimbursed, and community education and prevention activities and partnerships.
LVHN provided $25.8 million in free and reduced-cost care. The benefit includes more than 100,000 free flu shots during the past 15-years. The total excludes 12,000 shots given during drive-thru sessions at Dorney Park and Coca-Cola Park last month for fiscal year 2014.
Hospital admissions increased 2.4 percent and emergency room visits were up 2 percent to more than 177,000.
Visits to LVHN-owned physician practices totaled more than 1.7 million in fiscal year 2013, an 11 percent increase.
"Our nine health centers, with a new one to open soon in Bangor, and 125 physician-owned practice locations give people health care closer to their home and hopefully will help them avoid a potential hospital stay," Swinfard said.
LVHN has expanded walk-in care, which is offered at eight locations.
The meeting's theme, "The Future Begins With You," stressed the intention of health care reform and the importance of patients and caregivers partnering to keep people well and avoid serious or chronic illness and the need for hospital care.
Swinfard said fitness and health maintenance will be a major focus of the sports medicine and fitness destination center at the new hockey arena when it opens in downtown Allentown next year.
LVHN announced participation in the AllSpire Health Partners alliance in September. The consortium of seven hospital systems in Pennsylvania and New Jersey gives an ability to share best practices, improve quality and manage population health, helping to control costs.
LVHN's pending merger with the Greater Hazleton Health Alliance should allow each organization to find new ways to serve their respective communities, Swinfard said.
The LVHN Board of Trustees elected Alison R. Byerly, PhD, president, Lafayette College, to a three-year term beginning in January. The trustees re-elected Stephen R. Follett, president and CEO, Follett Corp., to a three-year term effective in January.