OhioHealth's net income surges to $368M in Q3

Morgan Haefner - Print  | 

OhioHealth, a 12-hospital nonprofit health system in Columbus, saw its financial performance improve in the third quarter of fiscal year 2019.

For the three months ended March 31, OhioHealth generated net operating income of $55.7 million, up slightly from $55 million reported in the same period a year prior, according to unaudited financial documents. OhioHealth attributed the improvement to continued volume growth, increases in net revenue per unit and effective cost management strategies.

While OhioHealth saw its equities affected by market declines at the end of calendar year 2018, those equities made a strong comeback in the third quarter of fiscal 2019. OhioHealth recorded nonoperating income of $312.1 million for the third quarter of fiscal 2019, compared to a nonoperating loss of $15.3 million in the same period a year prior.  

OhioHealth ended the quarter with net income of $367.8 million, up from $39.6 million recorded in the third quarter of fiscal 2018. In the first nine months of fiscal 2019, the health system recorded $337.1 million in net income, compared to $405.8 million a year before.

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