SCL Health nearly triples net income in first half of fiscal year

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Broomfield, Colo.-based SCL Health saw its finances improve in the first half of fiscal year 2019, according to unaudited financial documents

The eight-hospital system posted total operating revenue of $1.41 billion in the six months ended June 30, up 4.4 percent from $1.35 billion in the same period a year prior. SCL Health saw changes in volume, payer mix and contracted rates result in a $68.3 million increase in net patient revenue for the first half of 2019, compared to the first half of 2018.

The health system's total operating expenses also grew, up about 2 percent to $1.32 billion in the most recent six-month period compared to $1.29 billion in the same period a year before. The increase reflected upticks in salaries and benefits as well as supply costs.

SCL Health saw its operating income increase in the first half of 2019 to $93.4 million, up 55.4 percent from $60.1 million in the first half of 2018.

After including investment gains, the health system ended the first half of 2019 with net income of $263 million, nearly triple the $90 million SCL Health posted in the same period a year prior.

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