AdventHealth's net income jumps to $94.8M in Q1

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Altamonte Springs, Fla.-based AdventHealth saw its revenue, operating income and net income increase in the first quarter of 2021, according to its recently released financial report.

The health system saw its revenue in the quarter ending March 31 hit $3.4 billion, up from $3 billion recorded in the same period last year. 

Expenses also rose year over year by 9.5 percent to $3.2 billion. AdventHealth attributed the expense increase to a boost in the acuity of patients that require a higher level of care, supply costs and premium labor costs.

AdventHealth ended the first quarter of 2021 with an operating income of $179.1 million, up from $35.7 million recorded in the first quarter of 2020. 

After factoring in non-operating losses, the health system ended the first quarter of this year with a net income of $94.8 million. In the same quarter last year, AdventHealth recorded a net loss of $578.5 million.

Access the financial report here

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