Texas Children’s reported revenue of $2.8 billion in the fiscal year that ended Sept. 30, up 11.2 percent from FY 2014. The boost was partially attributable to an increase in patient service revenue, which rose 11.5 percent year over year.
The system saw its expenses increase in FY 2015, growing nearly 10.8 percent to $2.7 billion.
After accounting for a $68.7 million loss on its investments, Texas Children’s ended the fiscal year with net income of $44.6 million, down from net income of $219 million last year.
More articles on healthcare finance:
Georgia hospital to reopen after securing last-minute buyer
How Vanderbilt University Medical Center is using clinical evidence to drive down costs
Hospital CFOs’ top concerns for 2016
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.
