St. Louis-based SSM Health Care has reported $2.4 billion in total revenue for the six months ended June 30, a 40 percent year-over-year increase.
SSM saw operating income of $82.3 million for the first half of 2014, compared with a $1.3 million operating loss in the first six months of 2013. The key drivers of the increase were significant savings from a financial improvement plan the system implemented in the fourth quarter of 2013, in addition to revenue cycle improvements. Operating EBIDA was $221.5 million for the six months ended June 30 of this year, up from $105.3 million in the first half of 2013.
SSM's overall surplus increased by 55 percent, from $72.2 million in 2013 to $111.7 million for the first half of 2014. Net patient service revenue rose 4.5 percent year-over-year to $71.3 million. While same-hospital acute admissions dropped by 1.3 percent in the first half of 2014 compared with 2013, emergency department visits were up year-over-year by 4.9 percent. Outpatient visits also rose by 1.6 percent.