Henry Ford Health System sees net income drop 46% in first half of 2018

Detroit-based Henry Ford Health System saw revenues increase in the first half of 2018, but the health system ended the period with lower net income than in the first six months of 2017, according to recently released bondholder documents.

In the first half of this year, Henry Ford Health System reported net income of $35.3 million on revenues of $2.9 billion. That's compared to the first half of 2017, when the system recorded net income of $65.1 million on revenues of $2.98 billion.

Henry Ford Health System saw net patient service revenue climb 8.7 percent year over year in the first half of 2018. The system said the increase was attributable to several factors, including higher outpatient volume.

The system said consolidated expenses decreased 1.4 percent in the first half of 2018 compared to the same period of the year prior.

Henry Ford Health System's net plummeted in the first half of this year due to a significant decline in investment income. The system reported investment income of $763,000 in the first half of 2018, down from $47.1 million in the first six months of 2017.

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