SSM Health's annual operating income drops 43%

SSM Health saw revenues rise last year, but the St. Louis-based health system ended 2017 with lower operating income than in 2016, according to bondholder documents.

SSM Health's revenues climbed 6.3 percent year over year to nearly $6.5 billion. The revenue growth was due in part to a 3.3 percent year-over-year increase in net patient services revenue.

Higher expenses partially offset SSM Health's revenue growth in 2017. The health system's expenses climbed nearly 6.3 percent year over year to $6.48 billion.

After factoring in about $9.3 million in nonrecurring items, SSM Health ended 2017 with operating income of $5.7 million, down 43 percent from $10 million in the year prior.

SSM Health benefited from strong investment gains last year, and the system ended 2017 with net income of $243 million. That's compared to 2016, when the system reported net income of $99.4 million.

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