Intermountain's operating income climbs 52% in FY18

Salt Lake City-based Intermountain Healthcare saw its revenues and operating income improve in fiscal year 2018, according to financial documents released March 18.

For the year ended Dec. 31, 2018, Intermountain posted revenues of $7.7 billion. That's up 11.3 percent from $6.9 billion recorded in the previous fiscal year. Increases in net patient services and premiums and administration fees contributed to the year-over-year improvement.

At the same time, Intermountain saw its expenses climb 8.7 percent year over year to $6.8 billion in fiscal 2018. Upticks in employee compensation, supplies and medical claims all contributed to the year-over-year increase in expenses.

Intermountain posted net operating income of $547.1 million in fiscal 2018, up 52.4 percent from $359 million reported in the year prior.

Aftering incorporating nonoperating income, which was $240.2 million lower than the year before, Intermountain ended fiscal 2018 with net income of $598.5 million. That's down 8.6 percent from $655.1 million reported in fiscal 2017.

More articles on healthcare finance:
Trump's 2020 budget proposal: 5 healthcare takeaways
Cleveland Clinic's annual net income drops 91% on heavy investment losses
Kansas hospital closes: 5 things to know

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Top 40 Articles from the Past 6 Months