Chillicothe, Ohio-based Adena Health System posted an operating income of $3.3 million (1.7% margin) in the third quarter, reversing a $1.2 million operating loss (-0.6% margin) in the same period in 2023.
Five things to know:
1. Third-quarter revenue increased 1% year over year to $190.9 million while expenses grew by 1.4% to $187.6 million, according to financial documents published Nov. 22.
2. Net patient service revenue totalled $178.9M in the third quarter, growing 2.7% year over year and 2% over the prior quarter. Third-quarter commercial revenues remained strong at 25% versus 23% in the prior year.
3. Unrestricted days of cash on hand was 215 on Sept. 30, an increase of 19 days from June 30. Accounts receivable days improved to 48.3 from 50.6 on June 30.
4. As of Sept. 30, long-term debt for the health system was $270.7 million.
5. Adena reported a net income of $25.8 million in the third quarter, compared to a $12 million net loss in the same period last year.