Coral Gables-based Baptist Health South Florida saw revenue increase in fiscal year 2016, but the system ended the fiscal year with an operating loss, according to recently released bondholder documents.
Here are five things to know about Baptist Health South Florida's most recent financials.
1. The system reported revenue of $2.38 billion in FY 2016, up less than 1 percent from $2.36 billion the year prior.
2. Baptist Health's expenses outpaced its revenue growth in FY 2016. The system recorded expenses of $2.4 billion in FY 2016, up 5.6 percent from $2.28 billion in FY 2015.
3. The system saw year-over-year growth in labor and supplies costs, which increased 9.4 percent and 7.9 percent, respectively.
4. Baptist Health ended FY 2016 with an operating loss of $33.4 million. The system posted an operating surplus of $75.9 million in FY 2015.
5. After factoring in investment income, Baptist Health recorded net income of $162.6 million in FY 2016. The system ended FY 2015 with a net loss of $94.2 million.
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