WakeMed saw operating revenue increase 4.8 percent year over year to $1.3 billion in the fiscal year ended Sept. 30, according to recent financial documents. During that period, the nonprofit health system reported a $53.4 million increase in net patient service revenue.
At the same time, operating expenses grew in fiscal 2018 when compared to the year prior — from $1.2 billion to $1.3 billion — as labor and supplies costs increased.
For fiscal 2018, WakeMed saw operating income fall to $51.2 million, down 20 percent from last year. After accounting for nonoperating losses, the health system also saw net income fall. WakeMed recorded net income of $55.1 million in fiscal 2018, down 24.8 percent from $73.4 million in the year prior.
Overall, WakeMed said its net position increased in fiscal 2018 by $48.1 million when compared to the previous year.
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