In FY 2016, Orlando Health recorded revenues of $2.5 billion, up 5.7 percent from revenues of $2.3 billion in the year prior, according to recently released bondholder documents. The financial boost was attributable to higher net patient service revenue, which increased 5.8 percent year over year to $2.3 billion in FY 2016.
Orlando Health’s expenses also grew in the most recent fiscal year. The system recorded expenses of $2.3 billion in FY 2016, compared to expenses of $2.1 billion in FY 2015. Orlando Health’s supplies and labor costs increased 7.3 percent and 6.1 percent, respectively, year over year.
The system ended FY 2016 with operating income of $172.7 million, down 4.5 percent from operating income of $180.8 million in the year prior.
After factoring in nonoperating gains, Orlando Health posted net income of $209.5 million in FY 2016, compared to net income of $161.9 million in FY 2015.
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