The system’s operating revenue increased approximately 9.3 percent in the nine-month period to nearly $1.13 billion. The revenue growth was attributable largely to increased inpatient, outpatient and ambulatory patient volumes. Inpatient and observations admissions at the system’s facilities increased 7.5 percent compared to the same period of 2014.
The system also saw its expenses grow in the nine-month period that ended March 31, increasing to nearly $1.1 billion compared to about $997 million for the same period of the preceding year.
The system took a hit on its investments in the nine-month period, with its investment income falling to $1.9 million from nearly $29.8 million for the comparable period of the year prior.
More articles on healthcare finance:
Fitch rates $125M of Hartford HealthCare’s bonds
UPMC, Highmark battle rages on
Fitch rates Johns Hopkins Health System’s bonds
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
