The 672-bed hospital benefitted from a $14.5 million reduction in its malpractice insurance expense in the fourth quarter as a result of a positive trend in its claims experience.
Mount Sinai recorded revenue of $136.3 million in the fourth quarter, up less than 1 percent from $135.6 million in the same period of 2014.
The hospital said admissions and emergency room visits increased in 2015, climbing 0.9 percent and 4.8 percent, respectively, year over year. Mount Sinai also benefitted from an increase in inpatient and outpatient surgical cases in 2015.
Mount Sinai said expenses decreased 9.6 percent year over year to $116.5 million in the fourth quarter.
More articles on healthcare finance:
6 hospitals with strong finances
Massachusetts hospital to cease inpatient services
CCJR model takes effect this week: 13 things for healthcare leaders to know
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
