AdventHealth, a 46-hospital system based in Altamonte Springs, Fla., saw its net income more than double in the second quarter of 2021, according to recently released financial documents.
The health system posted a $645.7 million net income in the three months ending June 30, up from $290.8 million recorded in the same period one year before.
The net income growth was attributed to both an increase in patient revenue and larger nonoperating gains.
In the second quarter of 2021, AdventHealth posted revenue of $3.7 billion, up from $2.8 billion recorded in the same quarter of 2020.
Expenses also rose 17.5 percent to $3.3 billion in the second quarter this year. The expense increase was attributed to an increase in employee compensation, supply costs and professional fees.
After factoring in expenses, AdventHealth reported an operating income of $324 million in the second quarter. In the same period last year, AdventHealth recorded an operating loss of $799,000.