Charlotte, N.C.-based Carolinas HealthCare System saw its revenue increase in 2016, but the system ended the year with lower operating income than in 2015.
For 2016, Carolinas HealthCare saw its net operating revenue increase 4.2 percent year-over-year to more than $9 billion. However, after factoring in expenses, the nonprofit system saw its operating income drop 58 percent to $176 million last year, compared to $422 million in 2015.
Due to the decrease, Carolinas HealthCare may invest less in new programs and spend less on capital projects this year than previously planned, according to the Charlotte Business Journal.
Carolinas HealthCare ended 2016 with net income of $530 million, up from net income of about $302 million in 2015. The system said the increase in net income was largely attributable to gains on investments.
Editor's note: This article was updated March 17, 2018. The previous version of the story misstated the system's revenue.
More articles on healthcare finance:
Dana-Farber's Medicare funding at risk due to overreliance on Brigham and Women's
Average claim denial rate for large hospitals, by region
Trinity Health gets $417.9M revenue boost from acquisitions in first half of FY 2017