Beaumont Health's net income more than doubled in 2019

Southfield, Mich.-based Beaumont Health saw its net income more than double in fiscal year 2019.

The organization's total net income reached $390.2 million in fiscal year 2019. Net operating income was $185.2 million, and nonoperating gains hit $205 million in 2019.

By comparison, in fiscal 2018, Beaumont reported a net income of $147 million, which was composed of $240.7 million net operating income and a nonoperating loss of $93.6 million.

Beaumont reported operating revenue of $4.7 billion in fiscal 2019, a $43.3 million increase from fiscal 2018, when the system reported $4.66 billion in revenue.

Beaumont's operating expenses also increased 0.5 percent year-over-year.

Beaumont Health CFO John Kerndl applauded his team, saying that in fiscal 2019 they saw "significant reductions in supply expense and some reductions in liability expense."

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