Geisinger gets revenue boost from acquisitions

Danville, Pa.-based Geisinger Health System recorded an operating surplus of $167.5 million in the fiscal year that ended June 30, up nearly 5 percent from an operating surplus of $159.8 million in the year prior.

Geisinger said revenue increased 21.4 percent year over year to $5.5 billion in fiscal year 2016. The financial boost was attributable, in part, to an increase in patient service revenue. Geisinger said admissions were up 34.4 percent in the most recent fiscal year compared to the year prior. This was largely due to the system's acquisitions of AtlantiCare Health System in Atlantic City, N.J., and Holy Spirit Hospital in Camp Hill, Pa.

Geisinger's health plans also contributed to the system's revenue growth, as health plan membership grew 8.2 percent year over year.

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