Milwaukee-based Froedtert Health saw revenues and operating income climb in the first nine months of fiscal year 2018, but the system ended the period with lower net income amid increased expenses, according to unaudited financial documents.
Here are four things to know about the system's financials for the nine-month period ended March 31.
1. The system reported operating income of $100.1 million in the first nine months of fiscal year 2018, up 37 percent from operating income of $73.2 million in the same period of the year prior.
2. Froedtert said the operating income growth is attributable to cost control efforts, a stabilized payer mix and increased patient volume. The system saw hospital inpatient activity increase 5.9 percent year over year, while hospital outpatient activity increased 5.7 percent.
3. Froedtert's revenues grew to $1.8 billion in the first nine months of fiscal year 2018, compared to revenues of $1.6 billion in the same period of the year prior. However, expenses also increased, from $1.5 billion in the first nine months of fiscal year 2017 to $1.7 billion in the same period of the current fiscal year.
4. Overall, Froedtert ended the first nine months of fiscal year 2018 with net income of $194.5 million, down 8 percent from net income of $210.6 million in the same period of fiscal year 2017.
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