Financial updates from 5 health systems

The following five health systems recently released their financial statements for the quarter that ended Sept. 30.

1. Geisinger Health System reported revenue of approximately $1.2 billion in the period that ended Sept. 30, up 11.9 percent from the same quarter of the year prior. The Danville, Pa.-based health system ended the quarter with operating income of $32 million, down from $46.6 million in the same period of FY 2014.

2. Cleveland Clinic posted revenue of nearly $1.8 billion in the quarter that ended Sept. 30, up from revenue of $1.7 billion in the same period of last year. The health system's operating income increased to $128 million in the third quarter of FY 2015, up from $124 million in the same period of the year prior.

3. Livonia, Mich.-based Trinity Health saw its revenue increase 10 percent to $3.8 billion in the first quarter of its FY 2016, which ended Sept. 30. Trinity reported operating income of $48.3 million in the first quarter of FY 2016, down 51.7 percent from nearly $100 million in the same period of last year.

4. Sutter Health reported revenue of nearly $2.8 billion in the first quarter of FY 2015, up from revenue of $2.5 billion in the same period of last year. The Sacramento, Calif.-based health system ended the quarter with operating income of $96 million, up 14.2 percent from the same period a year ago.

5. Rochester, Minn.-based Mayo Clinic reported revenue of $2.5 billion in the third quarter of FY 2015, up 5 percent from the same period of last year. Mayo ended the third quarter with operating income of $120 million, down from $205 million in the same period a year ago.

More articles on healthcare finance:

Louisiana hospital to close this month, aims to reopen in 2016
New data shows experts were wrong about where healthcare costs less
Georgia hospital to reopen after securing last-minute buyer

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Top 40 Articles from the Past 6 Months