Revenue, admissions rise at UPMC in western, Pa.

PITTSBURGH (AP) — The University of Pittsburgh Medical Center says revenue for the first quarter of the current fiscal year rose by $352 million compared to the same period a year ago.

UMPC announced the results in a release today. The hospital group says revenues increased to $2.4 billion for the first three months of the 2012 fiscal year, which ran from July 1 to Sept. 30, 2011.

UPMC says outpatient revenue rose by 33 percent, total hospital admissions and observations rose by 13 percent, and physician revenue increased by two percent. The number of physicians employed by UPMC grew by nearly six percent.

UPMC also announced plans to build a new $300 million research facility in Pittsburgh. It’s scheduled to be completed in 2014.