Cleveland Clinic operating income jumps 45% in Q1: 5 key points

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Cleveland Clinic reported operating income of $60.7 million for the first quarter of fiscal 2015, up 45.1 percent from the same period a year ago, as the system saw fewer self-pay patients and more patients covered by Medicaid.

Here are five key points from Cleveland Clinic's first-quarter financials.

1. The system posted $1.6 billion in revenue for the first quarter, up 3.3 percent from the same period of last year, with net patient service revenue increasing 0.5 percent.

2. The system's expenses for the first quarter were $1.44 billion, up slightly from $1.42 billion in the same period of last year.

3. Inpatient admissions at Cleveland Clinic's facilities were up 3 percent in the first quarter of fiscal 2015 compared to the same period of 2014.

4. Cleveland Clinic saw nearly 51 percent fewer self-pay patients and 80 percent more Medicaid patients in the first quarter of fiscal 2015 compared to the same period of last year.

5. Cleveland Clinic reported net income of $163.9 million for the first quarter of fiscal 2015, up 88.8 percent from the same period a year ago.

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