The following seven health systems recently released financial updates:
1. St. Louis-based BJC HealthCare reported revenue of $5.72 billion in 2019, up from $5.33 billion generated in 2018. The system also saw its operating income quadruple to $263.3 million in 2019, compared to $59.4 million in 2018. The system ended 2019 with a net income of $700.6 million, nearly seven times BJC HealthCare's net income of $105.9 million reported in 2018.
2. Boston-based Dana-Farber Cancer Institute saw its operating revenue grow 13.07 percent year over year to $1.96 billion in the fiscal year ended Sept. 30. The increase was attributed to higher pharmacy revenue, patient volume growth and a boost in research revenue. Dana-Farber ended fiscal year 2019 with a net income of $54.1 million, down 49 percent from $106.7 million reported a year prior.
3. Rochester, Minn.-based Mayo Clinic reported revenue of $13.8 billion in 2019, up 9.6 percent from 2018. The growth was attributed to higher inpatient hospital and surgical patient volumes. Mayo ended 2019 with an operating income of $1.06 billion, the first time the health system saw its operating income top $1 billion. In 2018, Mayo posted an operating income of $617 million. Mayo closed out 2019 with a net income of $2.3 billion, up from a net income of $554 million the year prior.
4. OhioHealth, a 12-hospital system in Columbus, reported operating revenue of $1.15 billion in the second quarter of fiscal year 2020, ended Dec. 31, an increase from the $1.06 billion in operating revenue reported in the same period a year earlier. The system ended the quarter with a net income of $294.43 million, compared to a net loss of $182.6 million in the second quarter of fiscal 2019. In total, in the first half of fiscal 2020, OhioHealth recorded a net income of $376.96 million, up from a $30.73 million net loss in the same period one year prior.
5. ProMedica, based in Toledo, Ohio, saw its revenue increase 39 percent to $6.86 billion in the 12 months ended Dec. 31, 2019. The sharp increase was primarily related to ProMedica's acquisition of HCR ManorCare, one of the largest providers of post-acute services and long-term care in the U.S. Overall, ProMedica ended 2019 with a net income of $50.97 million, compared to a net loss of $66.47 million in 2018.
6. UPMC, a 40-hospital system based in Pittsburgh, reported annual revenue of $20.6 billion in 2019, up from $18.8 billion in 2018. The system said its revenue grew because more people enrolled in its health insurance plan. UPMC's operating income dropped 71.2 percent to $27 million in 2019, compared to $94 million in 2018. UPMC ended 2019 with a net income of $420 million. In 2018, UPMC recorded a net loss of $290 million.
7. Nashville, Tenn.-based Vanderbilt University Medical Center reported an operating revenue of $2.43 billion in the six months ended Dec. 31, up from revenue of $2.17 billion in the same period in fiscal 2019. It attributed the increase to growth in patient service revenue, which grew 12 percent year over year, and a boost in academic and research revenue. The medical center's operating income hit $99.73 million in the first half of fiscal 2020, an increase of nearly 35 percent from the $73.89 million generated in the same period last year.