North Shore-LIJ sees operating gains in 2014

Listen

Great Neck, N.Y.-based North Shore-LIJ Health System reported an operating gain of $87.5 million in 2014, up from about $84 million in 2013, as revenue from the system's health plan provided a financial boost.

The system's operating revenue increased to $7.4 billion in 2014, up from $7 billion the year prior. Premium revenue of $84.5 million from North Shore-LIJ's newly launched health plan was a major contributor to the system's positive financial picture.

North Shore-LIJ's operating expenses increased 6.2 percent in 2014, growing to $7.3 billion.

In its financial statement, the system disclosed a $25 million investment in Mount Kisco, N.Y.-based Northern Westchester Hospital for "future capital expenditures." Northern Westchester joined North Shore-LIJ's network Jan. 1.

More articles on healthcare finance:

Revamping hospital RCM using outsourcing, insourcing or something in-between
Hospital bond issuance up $4.4B in Q1: 5 key points
BJC Healthcare's operating surplus jumps 123% in Q1

Copyright © 2021 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars