OhioHealth's net income hits $294M in Q2

OhioHealth, a 12-hospital system in Columbus, saw its net income and net operating revenue rise in the second quarter of fiscal year 2020, according to unaudited financial documents.

In the three months ended Dec. 31, OhioHealth reported net operating revenue of $1.15 billion, an increase from the $1.06 billion reported in the second quarter of fiscal 2019.

In the second quarter, OhioHealth reported a net operating income of $71.21 million, up nearly 1.7 percent from the $70.03 million reported in the same period in fiscal 2019. 

OhioHealth attributed the uptick in net operating income to patient volume growth in both the inpatient and outpatient settings, along with a successful cost management program.

OhioHealth recorded nonoperating income of $223.21 million for the second quarter of fiscal 2020, compared to an operating loss of $252.63 million in the same quarter a year prior.

The system ended the quarter with a net income of $294.43 million. This compares to a net loss of $182.6 million in the second quarter of fiscal 2019.

In the first half of fiscal 2020, OhioHealth recorded net income of $376.96 million, up from a $30.73 million net loss in the same period one year prior.

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars