In the past three years, Main Line Health saw steady decreases in profit margins — a trend that continued into fiscal year 2017. The system reported a profit margin of 2.4 percent for the nine-month period that ended March 31, which it attributed to a rise in expenses, variable inpatient volume and unsteady reimbursement rates.
The system recorded an operating income of $30.26 million on revenue of $1.26 billion in the nine months that ended March 31. In the same period of the year prior, Main Line Health reported an operating income of $71.33 million on revenue of $1.24 billion.
By fiscal year 2020 the system aims to increase revenue and decrease spending under its Performance Excellence 2020 program, according to the report.
More articles on healthcare finance:
Collaboration between lab experts, clinicians could reduce low-value purchases
Mercy Health Network, AmeriHealth dodge split, helping 220k residents on Medicaid
Lifespan grows operating income in Q2 as expenses climb
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
