Lebanon, N.H.-based Dartmouth-Hitchcock continues to be on a path of financial recovery, according to a Valley News report.
The health system recorded an operating surplus of $10.1 million — before restructuring costs — for the nine months that ended March 31. D-H said the year-to-date operating gain was primarily due to continued growth in patient services as compared to the prior year, including surgical cases and inpatient discharges.
After factoring in $17.7 million in restructuring costs, D-H ended the first nine months of its fiscal year with an operating loss of $7.5 million. The operating loss was partly due to severance payments related to last year's layoffs as well as accounting adjustments, according to the Valley News report.
But the health system aims to break even or better by the end of its fiscal year, D-H spokesman Rick Adams said, according to the report.
"We're on track to meet that goal," he said. "We're really encouraged by these results."
The most recent financial results come nearly one year after D-H began implementation of a performance improvement plan. The health system recorded an operating loss of $39 million in fiscal year 2016, compared to an operating loss of $9 million in the year prior. D-H previously said the financial performance improvement plan was designed to produce an operating margin for fiscal year 2017 that is break-even or better, before investment income. And in its most recent financial statement, the health system said its results "are tracking well with year-to-date expectations."