BUFFALO, N.Y. — Pointing to multiple factors including changes in reimbursements and pension liabilities, Kaleida Health ended 2019 with a $24 million loss on revenue of $1.86 billion, the first time since 2013 the system has reported a deficit.
The numbers for 2019, shared with Buffalo Business First following board approval of the system’s audit in recent weeks, echo the difficulties faced by hospitals and health systems across the country, including its main competitor here in Western New York, Catholic Health, which also reported losses.
Though total revenue continued to rise slightly, Kaleida’s deficit follows three years diminishing surplus, dropping from $30 million in 2016 to $27.3 million in 2017 and then again in 2018, when the system reported a $10 million surplus on revenue of $1.85 billion. You can read the full story on Buffalo Business FIrst's website.
