Memorial Healthcare System nearly doubles net income in FY 2015

Hollywood, Fla.-based Memorial Healthcare System reported net income of $189.7 million for fiscal year 2015, up from $99.6 million for the previous fiscal year, according to a South Florida Business Journal report.

The system reported revenue of nearly $1.8 billion for fiscal 2015, compared to about $1.6 billion last year. The revenue growth was partially attributable to a 6.2 percent increase in patient admissions, according to the report.

MHS also provided less charity care in fiscal 2015 than the year prior, which helped its bottom line. The system provided $300.6 million in charity care in FY 2015, down from $455.4 million in fiscal 2014.

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