The following eight health systems recently released their financial statements for the three or nine-month periods ended Sept. 30:
1. St. Louis-based BJC HealthCare recorded revenues of $4.22 billion in the first nine months of 2019, up from $3.97 billion in the same period of the year prior. After factoring in expenses, which grew 4 percent year over year, BJC ended the first three quarters of 2019 with operating income of $170.6 million. That's up 123 percent from operating income of $76.6 million in the same period a year earlier.
2. Chicago-based CommonSpirit Health, which was formed through the Feb. 1 merger of San Francisco-based Dignity Health and Englewood, Colo.-based Catholic Health Initiatives, reported operating revenues of $7.2 billion in the first quarter of fiscal 2020, up from $7.1 billion in the same period a year earlier. After factoring in a year-over year increase in operating expenses, CommonSpirit posted an operating loss of $227 million in the first quarter of fiscal 2020, compared to an operating loss of $56 million in the first quarter of fiscal 2019.
3. Indianapolis-based Indiana University Health's operating revenue totaled $4.9 billion in the first nine months of this year, up 5.3 percent year over year. IU Health ended the first three quarters of 2019 with operating income of $511.6 million, compared to $398.8 million in the same period of the year prior.
4. Oakland, Calif.-based Kaiser Permanente saw operating revenues increase 5.3 percent year over year to $20.9 billion in the third quarter of 2019. The health system's operating income declined from $636 million in the third quarter of 2018 to $615 million in the third quarter of this year, while net income increased from $884 million to $1.2 billion.
5. Rochester, Minn.-based Mayo Clinic's revenue totaled $10.2 billion in the first three quarters of 2019, up 8.1 percent year over year. The health system's operating income and net income climbed 52 percent year over year, and its net income more than doubled to $1.5 billion.
6. New Orleans-based Ochsner Health System recorded revenues of $2.8 billion in the first nine months of 2019, up from $2.5 billion in the same period of the year prior. After factoring in expenses, which grew 13 percent year over year, Ochsner ended the first three quarters of 2019 with operating income of nearly $72 million, compared to $70.4 million in the same period a year earlier.
7. Brentwood, Tenn.-based Quorum Health ended the third quarter of 2019 with a net loss of $76 million on revenues of $419.9 million. That's compared to the same period a year earlier, when the company reported a net loss of $54 million on revenues of $460.5 million. Quorum, the 24-hospital spinoff of Franklin, Tenn.-based Community Health Systems, recorded a 5.9 percent decrease in same-facility admissions in the third quarter of this year, and reported $6.6 million in costs associated with the closure of MetroSouth Medical Center in Blue Island, Ill.
8. Livonia, Mich.-based Trinity Health reported operating revenue of $4.8 billion in the quarter ended Sept. 30, up 1.8 percent from the same period a year earlier. Trinity's operating income climbed from $87 million in the first quarter of fiscal 2019 to $94 million in the first quarter of fiscal 2020. After factoring in nonoperating items, including a decline in investment returns, Trinity reported net income of $166.4 million in the first quarter of fiscal 2020. That's compared to the first quarter of fiscal 2019, when the system posted net income of $419.9 million.
More articles on healthcare finance:
CarePoint issues 2,700 layoff notices, prepares to sell 2 hospitals
17 latest hospital credit rating downgrades
Arizona hospital closure will result in 655 layoffs