Sentara Healthcare net surplus falls to $359.9M

Sentara Healthcare, a nonprofit health system based in Norfolk, Va., finished 2014 with a net surplus of $359.9 million, down from $606.4 million the year prior.

The system's revenue increased to nearly $4.7 billion in 2014, up from $4.3 billion in 2013. Sentara's expenses also grew last year, reaching $4.4 billion, up from about $4.1 billion the preceding year.

The system ended 2014 with net operating income of $272.4 million, which was an improvement over operating income of $221.8 million in 2013.

Sentara's nonoperating gains fell from about $390 million in 2013 to $92.7 million last year, which had a negative effect on the system's bottom line.

More articles on healthcare finance:

10 hospital CFOs in the headlines this week
13 recent hospital outlook and rating actions
MedPAC makes 3 'two-midnight' rule recommendations

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Featured Webinars

Featured Whitepapers