The system’s revenue increased to $2.9 billion in 2014 compared to $2.3 billion the preceding year. University Hospitals reported its net patient service revenue grew nearly 26 percent to $2.8 billion, which was attributable largely to the system’s acquisition of Parma (Ohio) Community General Hospital and Elyria (Ohio) Medical Center last year.
The system’s expenses increased 26.3 percent year over year, with patient supply costs growing from $330.4 million in 2013 to $448.2 million last year.
University Hospitals’ operating income grew to nearly $84.6 million in fiscal 2014, up from $78.6 million the year prior.
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