The health system’s operating revenue climbed 7 percent year over year to $2 billion in the first two quarters of fiscal 2020. Net patient service revenue was up nearly 8 percent year over year.
After factoring in a 9 percent year-over-year increase in operating expenses, Duke University Health System ended the first two quarters of the current fiscal year with operating income of $112.4 million. That’s down 17 percent from the first half of fiscal 2019, when the health system reported operating income of $135.2 million.
Duke University Health System saw nonoperating income increase year over year, and the health system ended the first half of fiscal 2020 with net income of $155 million. The health system reported net income of $89.8 million in the first half of fiscal 2019.
More articles on healthcare finance:
HCA to issue $1B in new notes
Hospitals in Missouri, Kansas file for bankruptcy
Allina Health doubles operating income in Q4
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.