The following eight hospitals and health systems released financial results during the past two weeks, starting with the most recent.
1. Kaleida expenses down, revenue up in first half of 2014
Kaleida Health, based in Buffalo, N.Y., saw its operating revenue rise by 0.7 percent to $637.9 million. Overall, Kaleida reported a $19.9 million excess of revenue over expenses for the first half of this year, compared with a $5.5 million net loss for the first six months of 2013.
2. Presbyterian Healthcare Services Q2 operating margin rises to 6.9%
Total operating revenue at Albuquerque, N.M.-based Presbyterian Healthcare Services rose from $533.6 million in 2013 to $621.6 million during this year's second quarter, mostly driven by higher net premium revenue from Presbyterian's health plan. PHS also reported an $84.6 million excess of revenues over expenses for the three months ended June 30, up from an $11 million surplus during the second quarter of 2013.
3. Texas Health Resources surplus down 16% in first half of FY 2014
Texas Health Resources in Arlington reported reported a surplus of just $221.8 million on $1.97 billion in total operating revenue for the six months ended June 30, down from a surplus of $263.3 million on $1.87 billion in total operating revenue for the first half of 2013.
4. Banner Health revenue up, surplus down in first half of FY 2014
Phoenix-based Banner Health reported total net revenue of $2.67 billion for the six months ended June 30, up 4 percent from $2.57 billion during the first six months of 2013. Banner's overall excess of revenues of expenses, however, dropped from $420.4 million during the first six months of 2013 to $238 million in 2014, driven partly by a $67.2 million loss on interest rate swaps.
5. Rush University Medical Center operating margin holds steady in FY 2014
Chicago-based Rush University Medical Center reported a surplus of $132.45 million for 2014, up 19.3 percent from $111 million for the previous fiscal year. Total operating revenue was approximately $1.97 billion for the fiscal year ended June 30, up 7.2 percent from about $1.84 billion from 2013.
6. UPMC operating revenue up 12% in FY 2014
Pittsburgh-based UPMC's excess of revenue over expenses for 2014 was $567 million, compared with $414 million the previous year. The healthcare provider and insurer saw its operating revenues rise to approximately $11.42 billion in FY 2014, up 12.1 percent from 2013.
7. SCL Health's operating margin falls to 2.4%
For the six months ended June 30, Denver-based SCL Health's total operating revenue was $1.19 billion, a $26.5 million increase over the first six months of 2013. The health system generated $28.5 million in operating income for the first six months of fiscal year 2014, compared to $30.6 million during the first six months of last year.
8. Cleveland Clinic Q2 operating margin declines to 4.8%
The Cleveland Clinic Health System reported an excess of $235.4 million in revenues over expenses for the second quarter of 2014, up from a surplus of $110.4 million in 2013. The system reported $78.9 million in operating income for the three months ended June 30, down from $90 million in operating income during the second quarter of 2013. Higher total operating expenses stemmed from pharmaceutical costs, salaries, wages and benefits.
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