Here are three takeaways from the 19-hospital system’s recently released bondholder documents.
1. The nonprofit system saw operating income rise 11.6 percent in 2017 to $203.9 million, up from $182.8 million a year prior.
2. At the same time, Adventist saw expenses increase 5.5 percent to $3.9 billion, compared to $3.7 billion reported in the previous fiscal year, due in part to rising labor and supplies costs.
3. After including nonoperating gains, Adventist achieved net income of $229.8 million in 2017, a 36 percent hike compared to the $169.1 million it generated in 2016.
More articles on healthcare finance:
CMS terminates Kansas hospital’s Medicare billing privileges: 5 things to know
9 health systems with strong finances
California AG orders 3 hospitals to pay millions to meet charity care requirements
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.