Boston-based Dana-Farber Cancer Institute ended the first nine months of fiscal year 2018 with operating income of $20.8 million, compared to an operating loss of $34.87 million in the same period a year earlier, according to recently released financial documents.
Here are three things to know:
1. Dana-Farber saw revenues increase 13.8 percent year over year to $1.27 billion in the first nine months of fiscal 2018. Hospital management said this increase was largely attributable to growth in patient volume and higher pharmacy revenue.
2. During the first nine months of fiscal 2018, Dana-Farber's operating expenses climbed to $1.25 billion, an increase of 8.5 percent over the same period in fiscal 2017. The expense growth was due in part to an increase in consulting and legal fees as well as new facility lease obligations.
3. After factoring in strong investment gains, Dana-Farber ended the first nine months of fiscal 2018 with net income of $73.65 million, up from $9.64 million in the same period of the year prior.
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