Financial updates from Mayo Clinic, Kaiser & 3 other systems

The following five health systems recently released their financial statements for the three-month period that ended March 31.

1. Englewood, Colo.-based Catholic Health Initiatives reported revenues of $4.2 billion for the third quarter of fiscal year 2017, which ended March 31, up from revenues of $4.1 billion in the same period of the year prior. The system reported an operating loss of $40.1 million in the third quarter of fiscal year 2017, compared to an operating loss of $81.6 million in the same period of the year prior. 

2. Dignity Health recorded revenues of $3.1 billion for the three-month period ended March 31, down about 2 percent from revenues of $3.2 billion in the same period of the year prior. The San Francisco-based system's operating loss widened from $41.7 million in the third quarter of fiscal year 2016 to $85.4 million in the same period of fiscal year 2017.

3. Erlanger Health System saw revenues grow 8 percent year over year in the third quarter of fiscal year 2017. The Chattanooga, Tenn.-based system ended the third quarter of fiscal year 2017 with an operating income of $8.5 million, up about $7 million from the same period of the year prior.

4. Oakland, California-based Kaiser Permanente reported operating revenues of $18.1 billion in the first quarter of 2017, an 11.1 percent year-over-year increase. Kaiser recorded operating income of $1.04 billion in the first quarter of this year, up from $701 million in the first quarter of 2016.

5. Mayo Clinic's total revenue and other gains increased from $2.7 billion in the first quarter of 2016 to $2.9 billion in the first quarter of 2017, which ended March 31. The Rochester, Minn.-based system ended the first quarter of this year with an operating income of $101 million, down 7 percent from $109 million in the same period of 2016.

More articles on healthcare finance:

How CHS, Tenet, UHS, LifePoint and HCA fared in Q1
CMS further delays major bundled payment initiatives: 4 things to know
6 hospitals receive credit downgrades in past month

 

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