Last month, a Suffolk Superior Court Judge rejected a deal that would have allowed Boston-based Partners Healthcare to acquire South Shore Hospital and Hallmark Health System in Melrose, Mass.
The results of South Shore’s fiscal year that ended Sept. 2014, the first such report since the judge rejected the deal, shows that the hospital ended the year with a $16.6 million operating income, a 12 percent increase compared to fiscal year 2013, according to the report.
Hospital spokeswoman Sarah Darcy said in the report that South Shore’s financial success in 2014, in part, is due to increasing patient volume, and the hospital has been able to maintain high revenues through a number of programs.
Still, while the hospital has been profitable, Ms. Darcy said in the report that hospital executives are cautious of the future impact of state and national reforms, and in order to remain profitable, the hospital needs capital and to reformat care.
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