However, in last year’s second quarter, Partners recorded a one-time charge of $110 million after Partners and health IT company Epic agreed to a 10-year capital investment to switch over to a larger, more expensive clinical information system.
The $40.8 million in operating income came from $2.54 billion of total operating revenue, resulting in a 1.6 percent margin. Partners’ net profit, including investment income and other gifts, was $133.2 million, up $1 million from the second quarter of 2012.
In the first six months of Partners’ 2013 fiscal year, net profit stood at $369.6 million, up 42 percent from the first six months of last year. Revenue was also up 13.4 percent, from $4.43 billion in the first six months of 2012 to $5.02 billion this year.
“Like all other providers, we are really feeling the impact of inadequate reimbursement from government payors, at both the state and federal level,” Partners CFO and Treasurer Peter Markell said in a news release. “Margins on healthcare operations are razor thin. As a result, we are as focused as ever on controlling our costs and maximizing efficiencies to ensure that we are able to continue to deliver the world-class care that our patients expect.”
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