The system reported operating income of $141.9 million in the nine months ended Sept. 30. This compares to $125.8 million for the same period in 2018.
Memorial Sloan said operating revenue increased by $443.1 million, or 12.5 percent, in the third quarter to reach $3.98 billion through the first nine months of the year. The system’s operating revenue growth was attributed to the expansion of its ambulatory care network, increased grants and contract revenue and growth in patient volume.
Operating expenses increased by 12.5 percent, or $436.9 million, to $3.8 billion during the first three quarters of the year. Memorial Sloan officials attributed the expense increase to higher drug costs and the need to hire more full-time employees.
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