Partners HealthCare nearly doubles operating income in Q3

Boston-based Partners HealthCare saw its revenue and operating income rise in the third quarter of fiscal year 2019, according to unaudited financial documents.

Partners' operating revenues totaled $3.6 billion in the third quarter of its fiscal year, which ended June 30. That's compared to the same period of 2018, when Partners reported operating revenues of $3.3 billion.

Net patient service revenue and research revenue increased year over year, and the health system reported $47 million in royalty income.

After factoring in a 5.2 percent increase in operating expenses, Partners ended the third quarter of fiscal 2019 with operating income of $180.3 million. That's nearly double the operating income of $91 million the system reported a year earlier.

"We experienced strong financial performance this quarter," Partners Treasurer and CFO Peter K. Markell said in an earnings release. "This quarter was particularly strong as a result of a significant one-time royalty payment, continued success through our strategic Partners 2.0 initiative and improved performance in our clinical and research sectors."

Partners reported a 5 percent operating margin for the third quarter of fiscal 2019, up from a 2.7 percent operating margin in the same period of the year prior.

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