Orlando Health operating income jumps 151%

Orlando (Fla.) Health reported operating income of $70.8 million for its third quarter of fiscal year 2015, up 151 percent from $28.3 million in the same period a year ago.

The health system posted total revenue of $594.8 million, up from $524 million in the comparable period of last year, with net patient service revenue increasing 13.4 percent.

In the quarter that ended June 30, 7 percent of Orlando Health's patients were self-pay. That number is slightly down from the third quarter of last year, when the self-pay percentage was 8.1 percent. The system also saw a drop in the percentage of Medicare patients (from 34.5 percent to 33.7 percent), Medicaid patients (from 18.8 percent to 17.8 percent) and patients with commercial insurance (from 4.5 percent to 4 percent). However, managed care patients increased to 35.3 percent in the third quarter, up from 31.9 percent in the same period of last year.

After accounting for a $1.7 million loss on its investments, the system ended the third quarter with a net surplus of nearly $77 million, compared to a net surplus of $44.4 million in the same period a year ago.

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