Chicago-based Rush University Medical Center has reported an operating margin of 4.2 percent for fiscal year 2014, on par with its margin in FY 2013.
Overall, Rush 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. The rise in revenue was partly driven by a 0.5 percent year-over-year increase in admissions, an additional $48.5 million in Medicaid revenue from the Enhanced Illinois Hospital Assessment Program and a 10.8 percent,or $21.9 million, increase in total patient service revenue from physician practice plans in FY 2014, among other factors. Overall operating EBIDA, however, decreased by 2.7 percent in 2014 to $243.9 million.
Total operating expenses also increased by 7.1 percent, from $1.76 billion in 2013 to $1.89 billion in 2014. A 5.6 percent, or $52.5 million, increase in salaries, wages and employee benefits, and a 13.3 percent, $81.3 million, rise in supplies, utilizes and other expenses contributed to the higher expenses. Additionally, Rush reported a 12.4 percent, or $44.3 million, increase in the cost of malpractice and other insurance in FY 2014.