The health system’s operating revenue climbed 7 percent year over year to $2.8 billion in the first quarter of fiscal 2021, according to financial documents released Nov. 12. Net patient service revenue and premium revenue were up 1.7 percent and 17.9 percent, respectively.
The health system said the increase in premium revenue was primarily attributable to the settlement of an ACA risk corridor lawsuit for funding owed to its health plan for losses incurred on the public exchange market from 2014 through 2016.
After factoring in a slight decrease in operating expenses, Baylor Scott & White ended the first quarter of fiscal 2021 with operating income of $388 million, up 96 percent from $198 million in the same period a year earlier.
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