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.
More articles on healthcare finance:
65 financial benchmarks for hospital executives
Despite revenue jump, LifePoint’s net income falls 31% in 2016
Bankrupt California hospital closes
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
