The 404-bed pediatric hospital said net patient service revenue increased $15.4 million year over year to $276.7 million in the first quarter of FY 2016. The financial boost was largely attributable to an increase in patient volume, according to the report.
However, the hospital said expenses increased 10 percent year over year to $368 million in the first quarter of FY 2016. That growth was fueled by a 19 percent increase in supply costs, which hit $115.8 million in the first quarter of FY 2016.
Boston Children’s ended the first quarter of FY 2016 with operating income of $6.9 million, down 71 percent from the $23.6 million recorded in the same period of the year prior.
More articles on healthcare finance:
Intermountain’s bad debt jumps 41% in 2015
California hospital moves one step closer to closing
Catholic Health’s hospitals sees 84% drop in net income: 3 things to know
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
