NewYork-Presbyterian's Profit in FY 2012 Nearly Doubles to $326M
The major boost in NewYork-Presbyterian's profit stemmed from $99.4 million in investment income. The academic medical center lost $11.9 million from investments in FY 2011.
Total revenue jumped 6.5 percent, from $3.64 billion in FY 2011 to $3.88 billion in FY 2012. NewYork-Presbyterian also posted $173.9 million in cash and cash equivalents on hand for the year-long period ended Dec. 31, 2012.
NewYork-Presbyterian has five main hospital facilities in downtown New York and is the flagship of NewYork-Presbyterian Healthcare System, which includes 17 acute-care hospitals. In January, NewYork-Presbyterian submitted a certificate of need to New York's State Health Department to take over Manhattan-based New York Downtown Hospital as sole owner.
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