The following five health systems recently released their financial statements for the first quarter of fiscal year 2018.
1. Dallas-based Baylor Scott & White Health grew revenue nearly 4 percent in the first quarter of 2018 to $2.3 billion, up from $2.2 billion reported in the first quarter of 2017. The nonprofit system achieved operating income of $153.6 million in the three months ended Sept. 30, up 35.6 percent from $113.3 million reported in the same period a year prior.
2. Englewood, Colo.-based Catholic Health Initiatives' revenues remained virtually flat year over year at $3.7 billion in the first quarter of 2018. After factoring in expenses and one-time charges, CHI ended the first quarter with an operating loss of $77.9 million, compared to an operating loss of $180.7 million in the same period of the year prior.
3. Milwaukee-based Froedtert Health's revenue grew 8 percent year over year in the first quarter of 2018 to $558.7 million. The system reported operating income of $30.1 million in the three months ended Sept. 30, up 70.3 percent from operating income of $17.7 million reported in the same period a year prior.
4. Midland-based MidMichigan Health saw revenue increase year over year to $197.2 million in the three months ended Sept. 30, up from $194.1 million in the same period a year before. The nonprofit health system reported a $1.6 million operating loss in the first quarter of fiscal year 2018, compared to operating income of $6.4 million in the same period last year.
5. Pittsburgh-based UPMC's revenue was up 14.6 percent year over year to $3.87 billion in the three months ended Sept. 30, compared to the same period a year prior. The system's operating income grew slightly to $62 million in the first quarter of 2018, up from $60 million in the same period a year prior.