St. Louis-based Ascension reported revenue of $11.4 billion in the second half of 2016, up 6.8 percent from revenue of $10.7 billion in the same period of the year prior.
Here are five things to know about Ascension's most recent financial results.
1. The revenue boost was attributable, in part, to an increase in patient volume. Ascension said outpatient visits, inpatient admissions and emergency room volume were up in the six-month period that ended Dec. 31.
2. Ascension said the increase in patient volume was primarily attributable to its acquisition of Glendale, Wis.-based Wheaton Franciscan Healthcare in March.
3. Ascension saw expenses rise 7.1 percent year over year to nearly $11 billion in the second half of last year. The increase was partially due to higher labor and supplies costs.
4. Ascension ended the second half of 2016 with an operating margin of 3.3 percent, up from an operating margin of 2.9 percent in the same period of the year prior.
5. The system recorded a net income of $795 million in the second half of 2016, compared to a net loss of $373 million in the same period of 2015.
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