IASIS Healthcare, a for-profit hospital chain based in Franklin, Tenn., reported net earnings of $4.1 million for the second quarter of its fiscal 2015, compared to a net loss of $6 million a year ago.
Here are five key points on the health system's second-quarter financial results.
1. The system's revenue increased 11 percent in the second quarter growing to $696.8 million, up from $627.8 million in the same period of the year prior.
2. Excluding the effect of $4.7 million of revenue associated with the federal health insurer fee, IASIS' premium and service revenues in its managed care risk platform increased 27.9 percent in the second quarter, compared to the same period of last year. The medical loss ratio — the amount spent on actual healthcare costs — associated with premium revenue across all health plans in IASIS' managed care risk platform was 83.9 percent, compared to 85.6 percent in the same period of 2014.
3. IASIS reported its expenses increased 9.4 percent in the second quarter to $678.7 million, with its expenses related to salaries and benefit growing to $237.3 million, compared to $228.7 million in the same period of 2014.
4. IASIS posted net earnings from continuing operations of $8.7 million for the second quarter, up from $3.2 million in the comparable period of last year.
5. Admissions at IASIS' facilities increased 1 percent in the second quarter, and when adjusted for outpatient activity, admissions increased 4.1 percent.
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