Lebanon, N.H.-based Dartmouth-Hitchcock said as of December 2016, the health system was on the path to financial recovery, according to a Valley News report.
The news came via a recent filing with regulators, which outlined financial results for the first six months of fiscal year 2017.
Here are six things to know about D-H's financials.
1. D-H began implementing a financial performance improvement plan last July in response to its negative operating margin incurred in FY 2016. The system recorded an operating loss of $39 million in FY 2016, compared to an operating loss of $9 million in the year prior. The system said the financial performance improvement plan was designed to produce an operating margin for FY 2017 that is break-even or better, before investment income.
2. For the six months ended Dec. 31, 2016, D-H posted an operating margin of $305,000, before the impact of the restructuring costs. The system incurred restructuring costs as it carried out layoffs and other measures to improve its financial picture, reports Valley News.
3. D-H attributed the year-to-date positive operating margin in large part to continued growth in patient services as compared to the prior year, including surgical cases, inpatient discharges, case mix index, patient appointments and cost management initiatives.
4. At the end of the first quarter of FY 2017, D-H's year-to-date surplus was $1.3 millon. However, at the end of the second quarter of FY 2017, D-H posted a deficit of $1 million, reports Valley News.
5. Revenue in the second quarter of FY 2017 reached $396.8 million, with a negative operating margin of 0.2 percent, from $391.7 million in the first quarter of FY 2017, when the operating margin was positive at 0.3 percent, according to the report.
6. The system reported net patient service revenue of $348.4 million during the most recent quarter, up 1.5 percent from $343.1 million a year ago, reports Valley News.
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