Listen to article \u2022\u00a00:00 min<\/p>\n
Mazzoni Center, the Philadelphia region\u2019s largest LGBTQ health agency, reported its first operating profit since 2000 in the year that ended last June, the Center City<\/a> nonprofit said Friday.<\/p>\n The center logged an operating gain of $1.24 million after losing $2.13 million in fiscal 2024<\/a> and $5.15 million the year before that, according to Mazzoni\u2019s audited financial statements.<\/p>\n Fiscal 2025 results benefited from Mazzoni\u2019s first full year of participation in a federal program that supports primary care for underserved and low-income communities. As a federally qualified health center look-alike, Mazzoni collected better rates from Medicare and Medicaid and had broader access to a lucrative federal drug discount program.<\/p>\n The center had a $4.6 million gain in net revenue from the drug discount program known as 340(b). Revenue from patients visits increased by $2 million.<\/p>\n Reported total revenue of $40 million for fiscal 2025, which includes gross revenue from the 340(b) program, is not comparable to the previous year because of a change in accounting. <\/p>\n \u201cWhile the total revenue growth was partially due to fully recognizing the benefits of our FQHC-look-alike status, it was also driven by increases in patient and visit numbers,\u201d CEO Simon Trowell said in an email. <\/p>\n The number of patients seen at Mazzoni increased 12% in calendar year 2025 to 10,057, Trowell said. Total patient visits reached 33,902, up 34%, he said.<\/p>\n During its period of steep losses, cash shortfalls<\/a>, and layoffs<\/a>, Mazzoni operated under the cloud of what is called a \u201cgoing concern notice,\u201d<\/a> reflecting doubts about whether a business will be able to meet its financial obligations in the next year.<\/p>\n That warning was lifted as of April 17, according to the latest audited statement.<\/p>\n \u201cWe remain confident in the organization\u2019s financial viability and have continued to take steps to advance and ensure long-term sustainability,\u201d Trowell and chief financial officer Dan Clemons said in a statement accompanying the fiscal 2025 audit.<\/p>\n","protected":false},"excerpt":{"rendered":"Listen to article \u2022\u00a00:00 min Mazzoni Center, the Philadelphia region\u2019s largest LGBTQ health agency, reported its first operating…\n","protected":false},"author":2,"featured_media":605219,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[59],"tags":[97,252,253,263106],"class_list":{"0":"post-605218","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-health-care","8":"tag-health","9":"tag-health-care","10":"tag-healthcare","11":"tag-mazzoni-financial-results-turnaround"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/605218","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=605218"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/605218\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/605219"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=605218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=605218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=605218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}