Birmingham, Ala.-based Baptist Health System reported operating income of $9 million for the six months that ended June 30, compared to operating income of $3.9 million in the same period a year ago.
Here are five things to know about the system's financial and operating results for the six-month period.
1. Total admissions at Baptist Health's facilities increased nearly 2.2 percent in the six-month period that ended June 30, compared to the same period of last year. The system saw its emergency room visits grow nearly 2.4 percent.
2. Baptist Health reported revenue of $295 million, up from $284.5 million for the same period a year ago.
3. In December 2014, in anticipation of the formation of a joint venture with Dallas-based Tenet Healthcare, Baptist Health liquidated $198.5 million of its investments. The system reported a gain of $15.8 million in nonoperating revenue from the sales. In June of this year, Baptist Health and Tenet signed a definitive agreement to create a joint venture that will operate a healthcare network serving Birmingham and Central Alabama.
4. The system's expenses increased to $286 million in the six-month period, up from $280.7 million for the comparable period of last year.
5. The system reported an overall surplus of $8.2 million for the six months that ended June 30, compared to a surplus of $6.9 million in the same period of last year.
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