OhioHealth, an 11-hospital system based in Columbus, reported a net operating margin of 7 percent in the third quarter of fiscal 2015, compared to an operating margin of 5.6 percent in the same period a year ago, as the system experienced an increase in operating income due to volume growth.
The system reported operating revenue of $816.4 million for the third quarter, up from $689.6 million in the same period a year ago. The increase in revenue was attributable partially to volume growth, with total admissions at OhioHealth's facilities up 13 percent in the third quarter, compared to the same period of 2014. When adjusted for outpatient activity, admissions were up 14.3 percent.
With the surge in revenue and by keeping expenses under control, OhioHealth ended the quarter with operating income of $57 million, up 48.6 percent from the same period of last year.
Due to the system's nonoperating income falling 83 percent to $41.2 million in the third quarter, OhioHealth's net income plummeted to $98.3 million, down from $282.4 million during the same period of last year.
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