News Releases

News Releases

For Immediate Release

Children's Hospital of Pittsburgh Reports Impressive Gain at Annual Meeting

Bottom-line earnings of $20 million reported at annual public meeting

Children's Hospital of Pittsburgh President and CEO Ronald L. Violi announced today at the hospital's annual public meeting of its Board of Trustees a bottom-line earnings of $19.7 million.

The hospital's gain from patient care operations is $16.5 million, which is an increase of nearly $13 million from fiscal year 2003.

"Our strong financial performance is due in part to increased outpatient activity, strong development and investment income, improved reimbursement rates from insurers along with a 600 percent increase in federal graduate medical education funding," said Violi. "Maintaining financial viability is an ongoing challenge for any hospital. It is especially challenging for us at Children's because we are committed to providing free care for children who lack medical insurance or adequate care."

Children's Hospital provided more than $20 million in free care in fiscal year 2004.

With the recent opening of a new operating room devoted to minimally invasive surgery, Children's is one of the leaders with this advanced surgery. In fact, in 2000 Children's performed 276 minimally invasive surgeries. This year surgeons are well on their way to performing more than 800 of these advanced surgeries.

Violi also reported at the meeting today:

  • Children's performed 18,000 surgeries - nearly 3,000 more than last year.
  • Children's is the first pediatric hospital to put Computerized Provider Order Entry (CPOE) system into place.
  • Inpatient and outpatient visits in Oakland and Children's neighborhood locations went up significantly.
  • In 1996, when Children's Community Pediatrics was formed, there were 25 pediatricians in nine locations. Today, that number has increased to 93 pediatricians in 26 locations across six counties.

Contacts:
Melanie Finnigan, 412-692-5016, Melanie.Finnigan@chp.edu
Dean Walters, 412-692-5016, Dean.Walters@chp.edu

Last Update
February 19, 2008
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Last Update
February 19, 2008
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