The following five health systems recently released financial updates:
1. Springfield, Mo.-based CoxHealth saw its net income fall in the fiscal year ended Sept. 30, 2018. A $21 million loss related to a pension settlement affected the nonprofit, six-hospital system's bottom line, as did lower return on investment. CoxHealth ended the year with $45.2 million in net income, down 40 percent from $75.3 million reported in 2017.
2. Oakland, Calif.-based Kaiser Permanente reported higher revenue and operating income for its nonprofit hospital and health plan units in 2018, but the system's net income declined year over year. Kaiser's net income dropped 36 percent year over year to $2.5 billion in 2018. The decline was largely attributable to volatility in the investment markets.
3. Boston-based Partners HealthCare saw its operating income rise in the first quarter of fiscal year 2019 but ended the period with a net loss. After factoring in a $601 million nonoperating loss, which included a $563.7 million loss on investments, Partners ended the first quarter of fiscal 2019 with a net loss of $462.8 million. Partners reported net income of $321.6 million in the first quarter of fiscal 2018.
4. Pittsburgh-based Allegheny Health Network ended 2018 with operating income of $39 million, up from $31 million the health system recorded the year prior. After factoring in nonoperating gains, the health system ended 2018 with net income of $2.8 million compared to net income of $51.1 million in 2017 and a net loss of $40 million in 2016.
5. Nashville, Tenn.-based HCA Healthcare's revenue and profit increased year over year in the fourth quarter of 2018. After factoring in nonoperating income, one-time charges and a tax benefit of $236 million, HCA ended the fourth quarter of 2018 with a $1.1 billion profit. That's compared to the fourth quarter of 2017, when the company recorded a profit of $474 million.
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