Here are five things to know about the system’s most-recent financial and operating results.
1. Shands reported total operating revenues of $1.3 billion for FY 2015, up 6.8 percent from FY 2014. The system said the increase was attributable to net patient service revenue increasing by 7.2 percent during FY 2015.
2. Total admissions at the system’s facilities increased 3.2 percent in FY 2015 compared to the year prior.
3. Outpatient visits and emergency room visits increased in FY 2015, rising 3.5 percent and 13.5 percent, respectively.
4. The system was able to keep its expenses in check in FY 2015, and Shands ended the most-recent fiscal year with operating income of $132.3 million, up 55.9 percent from the year prior.
5. Shand’s operating margin was 10.3 percent for FY 2015, compared to 7.1 percent in FY 2014.
More articles on healthcare finance:
Back from the brink of closure: How a California hospital rebounded after 3 years of losses
Maryland hospital at risk of losing Medicare funding
Novant Health to close North Carolina hospital
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
