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.
More articles on healthcare finance:
How some rural hospitals score huge paydays from insurance companies
Tenet reaches deal with Glenview, implements additional governance changes
CMS grants Wake Forest Baptist brief extension of Medicare contract
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
