Bon Secours Health System, a 13-hospital system based in Marriottsville, Md., reported an operating surplus of $21 million on $869 million in revenue for the first quarter of fiscal year 2015, down from a $22.9 million operating surplus on $856.4 million in revenue for the same period of fiscal 2014.
Here are five things to know about the system's financial and operating results for the first quarter of fiscal 2015.
1. The system's 2.4 percent operating margin for the first quarter of fiscal 2015 was down from the 2.7 percent operating margin the system posted for the same period of fiscal 2014.
2. Inpatient volumes at Bon Secours facilities decreased 0.8 percent in the first quarter and surgeries were down 1 percent from the same period of fiscal 2014.
3. Bon Secours' expenses related to salaries, wages and benefits were up 3.3 percent in the first quarter of fiscal 2015, growing to $14.8 million, which was largely due to the system expanding its employed physician network.
4. The system's expenses related to supplies were up 0.3 percent in the first quarter of fiscal 2015 compared to the same period of fiscal 2014.
5. With nonoperating losses cutting into Bon Secours' bottom line, the system posted a net surplus of $7.4 million for the first quarter of fiscal 2015 compared to a $56 million net surplus for the first quarter of fiscal 2014.
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