Wellmont sees operating income jump 38% as investments in outpatient sites pay off

Kingsport, Tenn.-based Wellmont Health System saw its operating income increase 38 percent in the fiscal year that ended June 30 compared to the year prior. The system's financial success was largely attributable to its investments in outpatient facilities, according to a Bristol Herald Courier report.

Adjusting to industry trends of more care being provided in outpatient settings, Wellmont has made investing in these sites a priority. The health system has expanded its number of urgent care centers, which resulted in a 56 percent increase in urgent care patient volume during FY 2015. Wellmont's most-recent urgent care addition was the center it opened in Lebanon, Va., which began seeing patients Oct. 6.

The health system also opened another off-campus facility for cancer patients in Bristol, Va., in the most-recent fiscal year. The site, which opened in January, offers oncology, hematology and genetic counseling, among other services. The Bristol-based facility is the fifth office for the Wellmont Cancer Institute. During FY 2015, the number of infusion patient visits across the system jumped 64 percent, according to the report.

Wellmont reported its net income was up 143 percent in FY 2015 compared to the year prior, and Wellmont CFO Alice Pope was pleased with the health system's results.

"It's impressive what our physicians, medical personnel and other professionals in the organization have achieved considering the many changes taking place in the finances for health systems," she said, according to the report.

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