Increased admissions boost Norton Healthcare's bottom line

Louisville, Ky.-based Norton Healthcare reported its total revenues increased 8 percent to $1.8 billion in fiscal 2014, which was primarily due to growth of patient service revenue.

Norton's inpatient admissions were up 3 percent in fiscal year 2014 compared to the prior year, and system outpatient visits increased 8 percent year over year. The system's decrease in bad debt also contributed to its positive financial picture for fiscal 2014.  

The five-hospital system's operating expenses increased slightly in FY 2014, with expenses related to labor and benefits growing to $960.5 million, up from about $917.8 million the preceding year.

The system's bottom line improved in FY 2014, with Norton's excess of revenue over expenses increasing to $98.5 million, up from a $57.3 million in fiscal 2013.

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