Annapolis, Md.-based Luminis Health recorded an operating income of $4 million (0.6% operating margin) in the first half of fiscal 2026, up from an operating loss of $8.8 million (-1.4% margin) during the same period last year, according to its Feb. 9 financial report.
Luminis reported total operating revenue of $666.7 million during the six months ended Dec. 31, up from $627.8 million during the same period last year. The health system attributed the growth to a 5.3% increase in net patient revenue primarily due to annual rate increases from the Maryland Global Budget Revenue Model. Net patient service revenue was $646.2 million, up from $613.8 million.
The system said it continues to focus on collection improvement, denial management, quality incentive metrics and utilization review processes.
Total operating expenses were $662.7 million through the second quarter, up from $636.6 million during the same period last year. Salaries, wages and benefits totaled $354.4 million, up from $349.6 million. Supply costs were $118.9 million, up from $109.3 million. Purchased services totaled $163.1 million, up from $150.9 million.
“As with other healthcare organizations, the system continues to experience high medical and professional fees and labor costs, however, implemented cost-saving measures have contributed toward operating revenue growth outpacing operating expenses by 2.1% year over year,” Luminis said in the report.
The system reported a net income of $44.2 million through the second quarter of 2026, up from $16.3 million last year.
