Adventist HealthCare sees net income more than double in first half of 2017

Adventist HealthCare, a nonprofit health system in Gaithersburg, Md., reported net income of $11.2 million in the first six months of fiscal year 2017, compared to a net income of $5.1 million in the same period a year prior.

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.

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