Baltimore-based Bon Secours Health System saw revenue increase in the nine months ended May 31, but the system ended the period with lower operating income.
Bon Secours reported operating revenues of $2.5 billion in the nine months ended May 31, up 2.4 percent from the same period a year earlier. The growth was driven by higher ambulatory patient volumes, managed care rate increases and revenue cycle improvements, Bon Secours said in recently released financial disclosures.
The system said expenses climbed 3.5 percent year over year. Bon Secours attributed the increase to several factors, including continued expansion of physician practices, higher pharmaceutical costs and transitioning its home care unit to an Epic EHR system.
Bon Secours ended the nine-month period with operating income of $58.8 million, down 28.5 percent from $81.3 million in the comparable period of the year prior.
After accounting for investment gains of $74.6 million, the system ended the nine-month period with net income of $105.1 million, more than triple the net income of $33.8 million it reported in the same period of the year prior.
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Editor's note: This article was updated July 20. A previous version misstated Bon Secours operating income.