BayCare Health System, a 15-hospital system based in Clearwater, Fla., saw its operating margin increase 5.5 percentage points in the first quarter of this year to 10.1 percent, according to financial documents released May 10.
In the quarter ended March 31, the health system saw its net revenue increase 8.8 percent year over year to $1.2 billion. Despite seeing adjusted discharges decline in the first quarter compared to last year, the health system's net patient service revenue grew 8.4 percent in the quarter to $1.1 billion.
After factoring in expenses, BayCare ended the first quarter with an operating income of $119.4 million, compared to a $50 million operating income in the same quarter last year.
Overall, BayCare recorded a net income of $256.1 million in the first quarter, up from a net loss of $656.4 million recorded the same period last year.
As of the first quarter of this year, BayCare has 25,062 full time employees. At the same time last year, BarCare had 25,949 employees.