Orlando Health saw its revenues fall by $127 million to $788.8 million in the most recent quarter, compared to $915.8 million in the same period a year prior. The nonprofit health system largely attributed the change to the exclusion of Lakeland (Fla.) Regional Health, as the hospital and Orlando Health ended their one-year affiliation Sept. 30, 2018.
Orlando Health also saw its expenses decrease in the most recent quarter due to the exclusion of Lakeland Regional. Orlando Health posted expenses of $713.2 million in the most recent quarter, down 15.1 percent from $840.4 million in the same quarter a year earlier.
For the three-month period, Orlando Health posted operating income of $75.6 million, unchanged from the same period a year earlier.
After including a $79.8 million loss on investments, Orlando Health ended the most recent quarter with a $8.4 million net loss, compared to net income of $115.6 million in the same period a year prior.
More articles on healthcare finance:
Tenet shrinks loss to $5M, plans new $200M cost-cutting drive
Indiana hospital to close in April
2 South Carolina hospitals agree to close, transfer services to new facility
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
