Financial updates from Cleveland Clinic, UPMC & 4 other systems

The following six health systems recently released their financial statements for 2017.

1. Advocate Health Care, a 12-hospital system based in Downers Grove, Ill., ended 2017 with revenues of $6.2 billion, up from $5.6 billion in the year prior. The health system reported operating income of $219.7 million in 2017. That's down 16 percent from operating income of $263.6 million in 2016.

2. Southfield, Mich.-based Beaumont Health reported revenues of $4.44 billion in 2017, up from $4.37 billion in the year prior. The eight-hospital system ended 2017 with operating income of $151.9 million, compared to $195.6 million in 2016.

3. Cleveland Clinic's revenues increased to $8.4 billion in 2017, up from $8 billion in the year prior. Cleveland Clinic ended 2017 with operating income of $330.6 million, up nearly 36 percent from $243.2 million in 2016.

4. Boston-based Dana-Farber Cancer Institute saw revenues increase 8.4 percent year over year to $1.5 billion in 2017. Dana-Farber ended 2017 with an operating loss of $36.8 million, compared to operating income of $29.7 million in the year prior.

5. Indiana University Health, a 15-hospital system based in Indianapolis, recorded revenues of $6.3 billion in 2017, up 0.9 percent from the year prior. The health system posted operating income of $583 million in 2017. In 2016, IU Health reported operating income of $548 million.

6. Pittsburgh-based UPMC reported revenues of $15.6 billion in 2017, compared to revenues of $13.4 billion in the year prior. The health system ended 2017 with operating income of $245 million, up from $215 million in 2016.

More articles on healthcare finance:

Wisconsin hospital at risk of losing Medicare contract over injuries to babies
Dana-Farber ends 2017 with $36.8M operating loss
Advocate Health Care sees net income jump 36%

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