The eight-hospital nonprofit system reported operating revenue of $4.66 billion for the year ended Dec. 31, up 5 percent from $4.44 billion reported in the year prior.
The growth is partly attributable to net patient revenue, which rose 6.2 percent to $4.43 billion in 2018 from $4.17 billion in 2017.
Beaumont Health’s expenses also grew. The system said expenses increased 5 percent year over year to $4.49 billion in 2018.
Beaumont Health ended 2018 with operating income of $240.7 million, up from $168.6 million in 2017.
After factoring in nonoperating items, the system ended 2018 with net income of $142.1 million attributable to Beaumont Health. That’s down 56 percent from 2017, when the system posted net income of $321.6 million.
The decline was largely attributable to investment losses of $65 million and a cardiology federal settlement payment of $74 million.
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