Navicent Health's operating income drops 75% in FY 2016

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Macon, Ga.-based Navicent Health saw revenues dip 1.6 percent in fiscal year 2016, while expenses increased, according to recently released bondholder documents.

Navicent said expenses climbed to $741.3 million in FY 2016, up 2.8 percent from expenses of $720.9 million the year prior. The system recorded a year-over-year increase in labor and supplies costs, which rose 3.6 percent and 2.7 percent, respectively.

Navicent ended FY 2016 with operating income of $10.8 million, down 75 percent from $43.4 million in FY 2015.

After factoring in investment income and nonoperating losses, Navicent reported net income of $53.8 million in FY 2016, down from net income of nearly $75 million the year prior.

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