IASIS Healthcare records $15.3M operating loss: 5 things to know

IASIS Healthcare said revenue increased in the second quarter of fiscal year 2016 due to patient volume growth, but the Franklin, Tenn.-based hospital network ended the quarter with an operating loss.

Here are five things to know about the system's most recent financials.

1. IASIS posted revenue of $821.3 million in the second quarter of FY 2016, up 17.9 percent from $696.8 million in the same period of the year prior.

2. The financial boost was fueled by an increase in patient volume. IASIS said admissions were up 0.5 percent in the second quarter compared to the same period of 2015. When adjusted for outpatient activity, admissions increased 2.1 percent.

3. Revenue attributable to the hospital network's managed care risk platform totaled $322 million in the second quarter, up 42.5 percent from the same period of 2015.

4. The hospital network's expenses grew faster than revenue, increasing 23.3 percent year over year to $836.8 million in the second quarter of FY 2016.

5. IASIS ended the second quarter of FY 2016 with an operating loss of $15.3 million, compared to an operating gain of $18.1 million in the same period of the year prior.

More articles on healthcare finance:

MD Anderson blames EHR costs for 56.6% drop in income
3 obvious and not-so-obvious reasons hospitals close
Study: Hospitals that deliver superior patient experience see 50% higher margins

 

 

© Copyright ASC COMMUNICATIONS 2018. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Top 40 Articles from the Past 6 Months