In the first quarter of fiscal year 2016, which ended Dec. 31, Lahey Hospital posted an operating loss of $5.6 million. That’s compared to a $3.7 million operating loss in the same period a year earlier.
Although the hospital saw operating revenue increase 4.3 percent in the first quarter of FY 2016, it also saw expenses rise.
Lahey reported operating expenses rose 5 percent year over year to $290 million in the first quarter of FY 2016. The increase was largely due to a $160 million Epic EHR implementation, according to the report.
Fueled by increasing pharmaceutical costs, the hospital also saw supply costs jump 14.8 percent year over year.
More articles on healthcare finance:
How CHS, Tenet, UHS, LifePoint and HCA fared in Q4
3 ways hospitals can increase profitability in 2016
Mayo operating income dips 36.9% as expenses rise
