Mount Sinai sees net income nearly triple in Q4

Mount Sinai Medical Center in Miami Beach, Fla., recorded net income of $19.8 million in the fourth quarter, nearly three times its net income of $6.7 million in the same period a year ago.

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

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Top 40 Articles from the Past 6 Months