Catholic Health Initiatives, a nonprofit 103-hospital system based in Englewood, Colo., reported an operating loss of $217.8 million in the first quarter of fiscal year 2017, compared to an operating surplus of $7.8 million in the year prior.
Here are five things to know about CHI's most recent financials.
1. CHI said the operating loss was driven by operations in four regions — Colorado, Kentucky, Nebraska and Texas. Before restructuring, impairment and other losses, the combined operating EBIDA for those four regions was down $108 million in the first quarter of FY 2017 compared to the same period of the year prior.
2. The declining results in those regions were partially offset by improvements in the Ohio, Pacific Northwest and Tennessee regions. Before restructuring, impairment and other losses, the combined operating EBIDA for those three regions was up $20.4 million in the first quarter of FY 2017 compared to the same period of the year prior.
3. Overall, CHI's hospitals were affected by operating expense growth and unfavorable shifts in payer mix in the first quarter.
4. In an emailed statement, CHI said it was disappointed in its first-quarter financial performance. However, the system said it expects its performance improvement plan to "yield positive results and significant progress over the next six months."
5. CHI reported revenue of $4.1 billion in the first quarter of FY 2017, up 1.8 percent from $4.03 billion in the same period of FY 2016.
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