In fiscal year 2017, Orlando Health recorded revenues of $2.68 billion, up from revenues of $2.46 billion in the year prior. The financial boost was attributable to higher net patient service revenue, which increased 7 percent year over year.
Orlando Health’s expenses also grew in the most recent fiscal year. The system recorded expenses of $2.46 billion in fiscal year 2017, compared to expenses of $2.28 billion in fiscal year 2016.
The system, which owns six acute care hospitals, ended fiscal year 2017 with operating income of $217.4 million, up 26 percent from operating income of $172.7 million in the year prior.
After factoring in nonoperating gains of $112.4 million, Orlando Health posted net income of $331.7 million in fiscal year 2017, compared to net income of $209.5 million in fiscal year 2016.
More articles on healthcare finance:
Fitch: Medicaid work requirements put pressure on LifePoint, Quorum and CHS
JPMorgan to healthcare executives: New venture with Amazon, Berkshire isn’t a threat
156-bed Ohio hospital to close Feb. 11
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
