The health system reported revenues of $1.1 billion in the six-month period that ended Dec. 31, up from $911.9 million in the same period a year earlier.
Total net patient service revenue increased 13.6 percent year over year, primarily due to Temple Faculty Practice Plan physician revenues of $72 million that were not included in results for the year prior. On July 1, Temple University transferred the assets and liabilities of Temple University Physicians to Temple Faculty Practice Plan, a new subsidiary of TUHS.
The health system’s operating expenses climbed 11 percent year over year to $1.05 billion in the six months ended Dec. 31. Higher expenses related to supplies and pharmaceutics drove the growth.
TUHS ended the six-month period with operating income of $7 million and net income of $13.8 million. In the six months ended Dec. 31, 2018, the health system recorded an operating loss of $26.2 million and a net loss of $21.2 million.
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