D-H largely attributed the operating surplus to “continued growth in patient services as compared to the prior year, including surgical cases, inpatient discharges, case mix index, patient appointments and a variety of cost management initiatives.”
D-H’s latest financial results come about a year after the system began implementing a plan to improve financial performance, which included layoffs and other cost-cutting measures. The implementation followed a $12.2 million loss in fiscal year 2016, according to Valley News.
Since last fiscal year, though, D-H has seen steady improvement. The system posted a $26.2 million operating surplus for the fourth quarter of the fiscal year ended June 30, 2017. This compares with a $9.8 million surplus in the third quarter of 2017 and a $22.6 million loss in the fourth quarter in 2016, D-H spokesman Rick Adams told Valley News.
Moving forward, Mr. Adams told the publication D-H officials expect to save money by transitioning from a defined-benefit pension plan to a defined-contribution plan.
More articles on healthcare finance:
Quorum Health sees net loss narrow to $30.6M, plans more hospital sales
Chinese billionaire again ups stake in CHS — this time for $71M
Auditor: 15-bed Missouri hospital at heart of $90M billing fraud scheme
