Carolinas HealthCare Net Income Down Significantly, Driven by Investment Losses

Charlotte, N.C.-based Carolinas HealthCare System reported net income of $7.3 million for the first nine months of 2011, a stark drop compared to the $193 million net income it had for the first nine months of 2010, according to a Charlotte Observer report.

The drop was attributed to a $134 million investment loss during the first nine months of the year. The system's operating income, however, grew. Carolinas reported revenue of $2.9 billion and revenue minus expenses (excluding investment losses) of $111 million for the first nine months, up 45 percent from the same period a year ago. The gains were driven by a reported 5.6 increase in patient volumes, according to the report.

The system also reported a 16 percent increase in uncompensated care for the first nine months compared to the same period a year ago.

More Articles on Carolinas HealthCare:

Carolinas HealthCare, Novant File Applications to Add Beds in Mecklenburg Country
Carolinas HealthCare Gets CON Approval for New Hospital in Fort Mill, Beating Out Tenet and Novant

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Articles We Think You'll Like

 

Featured Whitepapers

Featured Webinars