Partners HealthCare Systems Inc. of Boston earned $84 million in its most recent fiscal quarter despite a large one-time expense for reimbursements to the federal government.
on an operating basis Partners posted a $12 million loss over the last three months of 2012, but offset that with gains from its investment portfolio and philanthropy to end the period positively.
However, the medical system absorbed a $76 million expense during the period for reimbursements to the Centers for Medicare and Medicaid Services. The charge was the result of federal Medicare policy—recouping a portion of payments made between 2010 and 2012—that will affect all US hospitals, according to Partners, the parent company for Massachusetts General Hospital, Brigham and Woman’s Hospital and other facilities.
“Providers are facing a great deal of pressure in the current healthcare environment—particularly from government payers,” said Peter K. Markell, the chief financial officer at Partners.
In the last quarter of 2011, Partners reported a net gain of $128 million and non-operating income of $56 million.