Trinity Health gets $86M revenue boost from new hospital

Livonia, Mich.-based Trinity Health recorded higher revenue and operating income in the first quarter of fiscal year 2019 than in the year prior, according to unaudited financial documents.

Here are four things to know about the health system's financial results:

1. Trinity Health reported revenue of $4.7 billion in the first quarter of fiscal 2019, up 7.1 percent from $4.4 billion in the year prior. The increase is partially attributable to Trinity's acquisition of MacNeal Hospital in Berwyn, Ill., from Dallas-based Tenet Healthcare. Trinity said the Illinois hospital generated $86 million in the three months ended Sept. 30. The remaining increase was attributable to growth in patient volumes and payment rates.

2. Expenses climbed 6.7 percent year over year to $4.6 billion in the first quarter of fiscal 2019. The MacNeal Hospital acquisition accounted for $90 million of the increase.

3. Trinity ended the first quarter of fiscal 2019 with operating income of $100.4 million. That's up 25.5 percent from the same period of fiscal 2018, when Trinity reported operating income of $80 million.

4. After incorporating nonoperating gains, Trinity reported net income of $419.9 million in the first quarter of fiscal 2019, up from $398.9 million in the same period a year earlier.

More articles on healthcare finance:

12 health systems with strong finances
Fitch: Healthcare profit margins will face pressure in 2019
Financial troubles force Texas health system to shut down

© Copyright ASC COMMUNICATIONS 2019. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Top 40 Articles from the Past 6 Months