St. Louis-based Ascension reported strong financial results for fiscal year 2015, which is largely attributable to increased patient volume.
Here are six things to know about the system's latest financial and operating results.
1. Ascension reported operating income of $696.5 million on $20.5 billion in revenue for FY 2015, compared to operating income of $598.7 million on $19.9 billion in revenue in the year prior.
2. The system reported an operating margin of 3.4 percent for FY 2015, up from an operating margin of 3 percent in FY 2014. When looking at its recurring operations, Ascension posted an operating margin of 4.1 percent for FY 2015, up from an operating margin of 3.8 percent last year.
3. Ascension's equivalent discharges were up 2 percent in FY 2015 compared to the year prior. Inpatient admissions, observation days and emergency room visits increased 0.8 percent, 3.7 percent and 4.7 percent, respectively, as compared to FY 2014.
4. The system attributed the increase in inpatient admissions and ER visits to expanded health insurance coverage under the Affordable Care Act, and it attributed the growth in observation days to increasing limitations on the admission of Medicare and Medicaid patients under the "two-midnight" rule.
5. Ascension reported its outpatient visits increased 3.9 percent in FY 2015 compared to the year prior, which was due largely to a 6.9 percent increase in physician office visits.
6. "Ascension is pleased to have had a strong and impactful fiscal year for our organization and for our patients," said Nick Ragone, chief communications and marketing officer for Ascension.
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