Partners, which owns Massachusetts General Hospital and Brigham and Women’s Hospital, attributed the decline to a drop in non-operating income, which included investment losses on interest rate swaps, according to the release.
Income from operations in the first quarter of FY 2012, which ran from October to December, totaled $72 million for a 3.3 percent operating margin. In the same quarter of FY 2011, Partners recorded an operating income of $22 million. The difference was due to a one-time commitment of $40 million to reduce health premiums in the first quarter of FY 2011.
Partners’ total operating revenue increased 9 percent to $2.2 billion, while net patient service revenue increased 10 percent to $1.7 billion. Inpatient activity increased 2.8 percent, while outpatient services remained steady.
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