Franklin, Tenn.-based IASIS Healthcare recorded an operating gain for the first quarter of fiscal year 2017, caused in part by continued growth across acute and managed care business lines.
Here are six things to know about the system's most recent financials.
1. IASIS posted consolidated revenue of $839.9 million in the first quarter of FY 2017, up 4.6 percent from $802.8 million in the same period of the year prior.
2. The financial boost was fueled, in part, by an increase in patient volume. IASIS said admissions were up 0.3 percent in the first quarter compared to the same period of 2016. When adjusted for outpatient activity, admissions decreased 0.5 percent year over year.
3. IASIS said revenue attributable to its managed care network totaled $340.7 million in the first quarter, up 8.8 percent from the same period of 2016.
4. The hospital network's expenses increased 3.7 percent year over year to $836.6 million in the first quarter of FY 2017.
5. IASIS ended the first quarter of FY 2017 with an operating gain of $2.2 million, compared to an operating loss of $3.3 million in the same period of the year prior.
6. "We are pleased with our first quarter results, which reflect solid improvement in EBITDA and continued growth across our acute and managed care business lines," said IASIS Healthcare President and CEO W. Carl Whitmer. "In particular, our first quarter results reflect significant improvements at our managed care operations, resulting from our recent efforts to enhance clinical and cost efficiencies."
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