The system reported operating revenue of $816.4 million for the third quarter, up from $689.6 million in the same period a year ago. The increase in revenue was attributable partially to volume growth, with total admissions at OhioHealth’s facilities up 13 percent in the third quarter, compared to the same period of 2014. When adjusted for outpatient activity, admissions were up 14.3 percent.
With the surge in revenue and by keeping expenses under control, OhioHealth ended the quarter with operating income of $57 million, up 48.6 percent from the same period of last year.
Due to the system’s nonoperating income falling 83 percent to $41.2 million in the third quarter, OhioHealth’s net income plummeted to $98.3 million, down from $282.4 million during the same period of last year.
More articles on healthcare finance:
CMS unveils overhaul to Medicaid managed care: 10 key points
10 recent hospital outlook and rating actions
Cone Health operating income soars 128% in Q1
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
