UPMC's 1Q 2012 Operating Income Reaches $155M

The University of Pittsburgh Medical Center released financial results for its 2012 first quarter, announcing a $62 million increase in operating income to $155 million, compared to the first quarter of fiscal year 2011, according to a UPMC news release.

UPMC's operating revenue totaled $2.4 billion for the period of July 1, 2011, through Sept. 30, 2011 — an increase of $352 million from last year.

Earnings before interest, depreciation and amortization were $253 million for the period, and UPMC also spent $120 million in capital expenditures to improve the health system's health IT and to fund new facility construction projects.

UPMC also reported several operating metrics. Total hospital admissions were up 13 percent in the first quarter of 2012 from the same period last year. Outpatient revenue in the first quarter of 2012 was also up 33 percent from the same period in 2011, and the number of employed physicians grew nearly 6 percent to a total of 2,954.

Related Articles on Hospital Finances:

Pennsylvania's Memorial Hospital Turns 2010 Losses Into 2011 Profit
Universal Health Services 3Q Profit Soars 53% From 2010
LifePoint Hospitals Reports 3Q Revenue of $877M, Profit of $38.8M

© Copyright ASC COMMUNICATIONS 2021. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.