Mercy Health reported total operating revenues of $3.2 billion for the six months ended Dec. 31, up 4.9 percent from $3.1 billion in the same period a year prior, according to unaudited financial documents. The change was primarily driven by increased net patient revenue from higher inpatient, outpatient and clinic volumes.
At the same time, Mercy Health’s total operating expenses grew 5 percent year over year to $3.2 billion in the six-month period. The health system said supplies and salaries and benefits were the main contributors to the growth.
Mercy Health’s operating income fell in the six months ended Dec. 31 to $24.2 million, down 7.8 percent from $26.3 million in the same period a year prior. In addition, the system reported a nonoperating loss of $80.8 million in the most recent six-month period due in large part to investment losses.
After factoring in nonoperating results, Mercy Health ended the most recent six-month period with a $56.6 million net loss, as opposed to net income of $127.3 million in the same period a year prior.
More articles on healthcare finance:
Ohio hospital to close after 105 years
Kansas hospital abruptly closes
Tower Health points to Epic install costs for operating loss
