The change in net income reflects the sale of Hackettstown (N.J.) Regional Medical Center to Morristown, N.J.-based Atlantic Health System, an Adventist HealthCare spokesperson told Becker’s Hospital Review.
Year to date, Adventist saw operating revenue decrease year-over-year from $414.3 million to $396.8 million. At the same time, Adventist saw expenses decrease from $405.5 million in the first six months of 2016 to $389.1 million in the same period this year. Adventist said both declines resulted from HRMC’s removal from Adventist’s system.
Adventist also saw operating income decrease in the first half of this year to $7.6 million, down from $8.8 million during the same time last year. The system attributed the decline to labor expense increases.
More articles on healthcare finance:
CMS cancels cardiac bundles, scales back CJR model: 8 things to know
Chinese billionaire again ups stake in CHS — this time for $71M
State-by-state breakdown of 80 rural hospital closures
