Four things to know:
1. Revenue increased 12% year over year to $3.49 billion while expenses grew by 10.9% to $3.45 billion, according to financial documents published Nov. 27. In the fiscal fourth quarter, the three months ending Sept. 30, 2024, revenue increased 6.4% year over year to $848.3 million and expenses rose 10.8% to $875.1 million.
2. Brown Health’s net income in FY 2024 was $148.7 million, up from $37.1 million in FY 2023. Net income for the three months ending Sept. 30, 2024, was $14.8 million, compared to a net loss of $7.5 million during the same quarter in 2023.
3. As of Sept. 30, 2024, the health system’s long-term debt stood at $700 million, compared to $391.2 million a year earlier.
4. Brown Health on Oct. 1 acquired Taunton, Mass.-based Morton Hospital and Fall River, Mass.-based St. Anne’s Hospital. The hospitals were previously owned by Dallas-based Steward Health Care.
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.