The following six health systems recently released financial updates:
1. Phoenix Children's Hospital recorded income from operations of $2.5 million for the three months ended Dec. 31, 2018, down from $11.3 million in the same quarter of 2017. After factoring in a $34.2 million investment loss in the most recent quarter, Phoenix Children's posted a net loss of $38.7 million.
2. Nashville, Tenn.-based Vanderbilt University Medical Center reported higher revenue and operating income during the first half of fiscal year 2019 than in the same period of the year prior. VUMC ended the six-month period with operating income of $73.89 million, up from $30.63 million in the six months ended Dec. 31, 2018.
3. Houston-based Texas Children's saw revenues increase in the first quarter of fiscal year 2019, partially due to higher patient volume. After factoring in expenses, which climbed 8 percent year over year, Texas Children's ended the first quarter of fiscal 2019 with operating income of $17.37 million. That's down 39 percent from the first quarter of fiscal 2018, when Texas Children's reported operating income of $28.28 million.
4. UMass Memorial Medical Center saw revenues increase during its most recent financial quarter, but losses on investments dragged down the Worcester, Mass.-based system's bottom line. After accounting for nonoperating results, UMass Memorial ended its most recent quarter with a $37.1 million net loss, compared to net income of $11.7 million in the comparable period a year prior.
5. Mercy Health saw revenues increase in the first half of its most recent fiscal year. However, the Chesterfield, Mo.-based system ended the period with a net loss. After factoring in nonoperating results, Mercy Health ended the most recent six-month period with a $56.6 million net loss, as opposed to net income of $127.3 million in the same period a year prior.
6. San Francisco-based Dignity Health, now part of CommonSpirit Health with Catholic Health Initiatives in Englewood, Colo., posted an operating loss in the quarter ended Dec. 31. Dignity Health recorded a $318 million net loss in the three months ended Dec. 31, compared to net income of $609 million in the same period a year prior.
More articles on healthcare finance:
North Carolina hospital forced into bankruptcy
1 in 5 rural hospitals at high risk of closing, analysis finds
Tenet shrinks loss to $5M, plans new $200M cost-cutting drive