SunLink Health Systems Loses $8.9M in Q4

Atlanta-based SunLink Health Systems, which operates six community hospitals in the Southeast and Midwest, reported a net loss of $8.86 million in the fourth quarter of the fiscal year ending June 30, 2011, compared with a net loss of $1.52 million in the same quarter last year, according to a news release.

SunLink's net revenues for the fourth quarter of FY 2011 were $43.2 million, down roughly 1 percent from FY 2010. However, its healthcare facilities segment net revenues in the fourth quarter were $36.37 million, or an increase of 4.4 percent from last year.

The system attributed the increase in its healthcare facilities revenues from the Medicare and Medicaid electronic health records incentive reimbursement programs, but admissions and surgeries declined on a year-over-year basis due to increasing healthcare costs and a decrease in elective outpatient procedures, leading to its overall net loss.

SunLink also reported its incomes and revenues for the year ending June 30, 2011. It reported a net loss of $10.7 million in FY 2011 compared with a net profit of $102,000 a year ago. SunLink's total revenues in FY 2011 were $181.2 million, down 1.1 percent from its $183.2 in total revenues last year.

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