Coral Gables-based Baptist Health South Florida recorded an operating gain of $10.9 million in the third quarter of 2016, compared to an operating loss of $5.2 million in the same period of the year prior, according to bondholder documents.
Baptist Health saw revenues increase in the third quarter as its bad debt fell. The nonprofit system recorded revenues of $603 million in third quarter, up 2.6 percent from revenues of $587.9 million in the same period of 2015. Baptist Health's provision for bad patient debt was $74.3 million in the third quarter of this year, compared to $81.3 million in the same period of 2015.
The system's boost in revenues was attributable, in part, to patient volume growth. Baptist Health said admissions, emergency room visits, outpatient surgeries and urgent care center visits increased in the third quarter of this year.
After accounting for expenses, which remained nearly flat year over year, Baptist Health ended the third quarter with net income of $37.9 million, compared to a net loss of $17.3 million in the same period of 2015.
More articles on healthcare finance:
HRSA proposed rule establishes dispute resolution panel for 340B program
OIG: NewYork-Presbyterian received $14.2M in Medicare overpayments
Brigham strike, Epic implementation drag Partners' earnings