Cleveland Clinic reported an operating margin of 7.4 percent for the second quarter of fiscal year 2015, up from an operating margin of 4.8 percent in the same period a year ago.
Here are five things to know about the 11-hospital system's latest financials.
1. Cleveland Clinic reported revenues of $1.7 billion in the second quarter of FY 2015, up from revenues of $1.6 billion in the same period of last year. That boost was largely attributable to an increase in the system's net patient service revenue.
2. The system reported total inpatient admissions increased 2.5 percent, emergency room visits climbed 7.5 percent and outpatient volume was up 6.2 percent in the second quarter of FY 2015 compared to the same period of last year.
3. Cleveland Clinic kept its expenses in check in the second quarter of this year. The system reported expenses of $1.5 billion, up slightly from expenses of $1.4 billion in the same period of last year.
4. The system posted operating income of $127.8 million for the second quarter of FY 2015, up from operating income of $78.9 million in the same period a year ago.
5. The system ended the second quarter of this year with a net surplus of $183.8 million, down from a net surplus of $235.4 million in the comparable period of 2014.
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