For the three months ended March 31, Nicklaus Children’s recorded net patient service revenue of $140.3 million, down 11 percent from $157.7 million reported in the same quarter last year, according to unaudited financial documents. Nicklaus Children’s said a primary driver for the decrease was a 15 percent decline in inpatient days and lower outpatient facility use.
At the same time, the hospital saw expenses increase by $14.9 million year over year to $165.3 million in the most recent quarter. The hospital’s operating loss for the first quarter was $2.4 million, compared to operating income of $22.2 million in the previous year.
Nicklaus Children’s reported nonoperating income of $11.5 million in the first quarter of this year, which was $22.3 million favorable when compared to the same period’s $10.8 million operating loss in 2018. The hospital attributed the gains to improved investment performance.
Nicklaus Children’s ended the first quarter with net income of $9.1 million, down from $11.2 million for the same quarter a year earlier.
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