Marriottsville, Md.-based Bon Secours Health System saw its operating income more than double in the first quarter of fiscal year 2018 as the 19-hospital system kept costs down.
Bon Secours reported operating income of $23.8 million in the first quarter ended Nov. 30, 2017, according to unaudited financial documents. This is more than double its operating income of $10.4 million in the same period a year prior. The system attributed the jump to increased patient volume, especially in its primary care physician and outpatient visits. The system's operating margin also improved from 1.3 percent in the first quarter of 2016 to 2.9 percent in the first quarter of 2018.
Bon Secours reported $800.6 million in total expenses during the first quarter of 2018, up only 0.6 percent from the same period a year prior. At the same time, the system grew its revenue by 2.3 percent to $824.4 million.
After factoring in nonoperating gains, Bon Secours ended the first quarter of 2018 with net income of $35.3 million, compared to a net loss of $5.8 million reported in the same quarter a year before.
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