Analysts Comment on Phoebe Putney's Financial Year
Thursday, May 22nd, 2014
An IRS Form 990 typically provides a window into a nonprofit hospital’s financial health and inner workings.
Phoebe Putney Memorial Hospital’s recently approved 990 for fiscal 2013 shows a whopping $58 million loss. Much of that red ink comes from a write-off related to the 2011 acquisition of the hospital’s only Albany competitor.
That purchase of Palmyra Medical Center triggered fierce opposition from the Federal Trade Commission, thrusting Phoebe Putney into the national spotlight.
