Novant Health reported an increase in revenue in fiscal year 2015, but the Winston-Salem, N.C.-based system ended the period with lower net income than a year earlier, according to the Winston-Salem Journal.
Novant reported operating revenue increased 8.9 percent year over year to $4.1 billion in FY 2015. However, the system's revenue gains were offset by a 7.2 percent increase in expenses.
The health system also reported a $60 million loss in its stock market investment portfolio in FY 2015, which took a hit on its bottom line. Novant posted a $38.9 million gain on its investments in FY 2014, according to the report.
Novant ended the most-recent fiscal year with net income of $191.6 million, down 5 percent from a year earlier.
More articles on healthcare finance:
How CHS, Tenet, UHS, LifePoint and HCA fared in Q4
3 ways hospitals can increase profitability in 2016
Mayo operating income dips 36.9% as expenses rise