Texas Children's operating income surges 54% as investment losses take toll on bottom line

Texas Children's Hospital saw its operating income jump 54 percent to $120.2 million in fiscal year 2015. However, the Houston-based pediatric health system's bottom line suffered as it took a major hit on its investments.

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

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.


Top 40 Articles from the Past 6 Months