Toledo, Ohio-based ProMedica Health System reported strong revenue growth and a significant boost in its operating income for fiscal 2014.
The system's revenues jumped 22.1 percent to $2.6 billion in 2014 compared to the year prior. ProMedica reported an uptick in net patient service revenue and premium revenue, which were up 10.6 percent and 47.2 percent, respectively, over the system's 2013 numbers.
The system's Medicare and Medicaid payer mix didn't change from 2013 to 2014. However, self-payers made up 20 percent of the system's mix, down 4 percent from the previous year, and commercial and other payers increased by 4 percent year over year.
ProMedica ended fiscal 2014 with operating income of nearly $84 million, which is a 75.5 percent increase from the system's 2013 operating income of $47.4 million.
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