Ascension's expansion efforts pay off as operating surplus swells to $753M

St. Louis-based Ascension reported $21.9 billion in revenue in fiscal year 2016, up 6.6 percent from revenue of $20.5 billion in the year prior, according to financial documents filed with bondholders.

The financial boost was partially attributable to an increase in patient volume due to Ascension's expansion efforts in the past year. During the year ended June 30, 2016, Ascension acquired Glendale, Wis.-based Wheaton Franciscan Healthcare and added hospitals in Michigan and Tennessee as well.

Including these recently acquired facilities, the nonprofit system said inpatient admissions and inpatient surgeries increased 3.2 percent and 3.3 percent, respectively, as compared to the year prior. Ascension also said emergency room visits increased 3.7 percent year over year.

After accounting for a year-over-year increase in expenses of 6.1 percent, Ascension ended FY 2016 with an operating surplus of $753.2 million, up from $696.5 million in the year prior.

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