Financial updates from UPMC, Kaiser + 8 other health systems

The following 10 health systems recently released financial updates:

1. Ballad Health in Johnson City, Tenn., said "exceptional expense management" helped improve its finances in the third quarter of fiscal 2019. After including operating and nonoperating results, Ballad ended the quarter with net income of $66.6 million, compared to a net loss of $26.1 million in the same quarter during fiscal 2018.

2. Dallas-based Baylor Scott & White saw its operating performance improve in the first nine months of fiscal 2019, but ended the period with lower net income. After including operating and nonoperating activity, Baylor Scott & White ended the nine-month period with net income of $619.1 million. That's down 17.6 percent from $727.9 million recorded during the same time a year earlier.

3. Southfield, Mich.-based Beaumont Health saw revenue increase in the first three months of 2019; however, the health system's operating income dropped amid rising expenses. After incorporating operating and nonoperating results, the system's net income totaled $129.1 million in the first three months of 2019, up from $10.1 million.

4. BJC HealthCare, a nonprofit 15-hospital health system in St. Louis, saw its revenues and net income improve year-to-date. After including a $114 million increase in nonoperating income, BJC HealthCare ended the period with net income of $209.7 million, more than double the $82.7 million posted in the same period a year prior.

5. Johns Hopkins Health System in Baltimore saw its revenue and net income increase in the three months ended March 31, but its operating income fell due in large part to the closing of its troubled Heart Institute at Johns Hopkins All Children's Hospital in St. Petersburg, Fla. After including a favorable gain on investments during the three months ended March 31, Johns Hopkins ended the period with net income of $168.5 million, more than triple the $45.7 million the health system reported in the same quarter of 2018.

6. Oakland, Calif.-based Kaiser Permanente reported higher revenue and net income for its nonprofit hospital and health plan units in the first quarter of 2019. Kaiser reported net income of $3.2 billion in the first quarter of 2019, more than double its net income of $1.4 billion in the first quarter of last year.

7. OhioHealth, a 12-hospital nonprofit health system in Columbus, saw its financial performance improve in the third quarter of fiscal year 2019. OhioHealth ended the quarter with net income of $367.8 million, up from $39.6 million recorded in the third quarter of fiscal 2018.

8. Boston-based Partners HealthCare saw its revenue and operating income rise in the second quarter of fiscal year 2019. The health system ended the second quarter of fiscal 2019 with net income of $622.8 million, which includes a nonoperating gain of $491.6 million. Partners reported net income of $157.9 million in the second quarter of fiscal 2018, including a nonoperating gain of $89 million.

9. Dayton, Ohio-based Premier Health saw its revenue improve in fiscal year 2018, but ended the 12-month period with operating and net losses. After accounting for a $44.8 million nonoperating loss primarily driven by unfavorable investment performance, Premier recorded a $1.1 million net loss in fiscal 2018. That's compared to a $48.1 million net gain in fiscal 2017.

10. UPMC reported year-over-year increases in revenue and net income in the first three months of 2019, but the Pittsburgh-based health system ended the period with lower operating income. The system reported net income of $289 million in the first three months of 2019, up from $97 million reported in the first three months of 2018. The boost is largely attributable to gains from investing and financing activities.       

More articles on healthcare finance:
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Kaiser's net income more than doubles to $3.2B in Q1

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