CHI’s operating revenue grew to $15.2 billion in FY 2015, up 12 percent from $13.6 billion the year prior. The growth was due largely to a 142 percent increase in insurance premium revenues, which grew from $171 million in FY 2014 to $416 million in FY 2015.
The nation’s second-largest nonprofit health system, which operates 105 hospitals across 19 states, saw many expenses grow in the last fiscal year. Employee salaries and wages grew from $5.5 billion in FY 2014 to nearly $6 billion in FY 2015, while costs associated with purchased services, medical professional fees, medical claims and consulting rose from $1.9 billion in FY 2014 to $2.3 billion in FY 2015.
CHI reported operating income of $3.1 million in FY 2015, up significantly from the $109.4 million operating loss the system posted in FY 2014.
CHI’s earnings before interest, depreciation and amortization and before restructuring rose to nearly $1.3 billion — a 36 percent increase over the previous year’s total of $926 million. The system’s operating EBIDA margin increased to 8.3 percent from 6.8 percent.
After accounting for a $20.2 million loss on its investments and a $77.2 million loss on interest rate swaps, the system ended the fiscal year with net income of $93.6 million, down 85 percent from the year prior.
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