Four things to know:
1. Lucile Packard Children’s posted total operating revenues of $1.5 billion in the nine months ended May 31, up 18.6 percent year over year from $1.2 billion. Increases in net patient revenue and provider fees contributed to the uptick, among other factors.
2. The children’s hospital also saw its total operating expenses increase, up 10.4 percent from $1.3 billion in the nine-month period a year prior to $1.4 billion in the most recent nine-month period.
3. Lucile Packard Children’s improved its operating income year over year to $65.7 million, turning around an operating loss of $32 million recorded in the same period a year prior.
4. Lucile Packard Children’s ended the nine-month period with net income of $77.8 million, up from $3.4 million reported in the same period last year, thanks in part to income and gains associated with Stanford University’s managed pools.
More articles on healthcare finance:
Nurses challenge sale, closure of Pennsylvania hospitals
Tenet to spin off RCM unit Conifer
Cleveland Clinic invests $23M gift in leadership training
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.