The 19-hospital system saw its net revenue reach $2.8 billion in the three-month period ending March 31, up from $2.6 billion recorded in the same period one year prior.
Expenses for the health system also rose to $2.6 billion in the first quarter of this year, an increase of 5.5 percent from the same period last year.
The health system ended the first quarter with an operating income of $61.7 million, up from a net loss of $40 million recorded in the first quarter last year.
Cleveland Clinic also recorded nonoperating gains of $288.6 million in the first quarter.
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.