The following eight health systems recently released financial updates:
1. Indiana University Health, a 16-hospital system based in Indianapolis, reported a year-over-year increase in revenue and operating income in 2018. After factoring in nonoperating income, including $202.4 million in investment losses due to turbulent financial markets, IU Health reported net income of $296.22 million in 2018. That's down from 2017, when the system reported net income of $989.25 million.
2. UPMC reported higher revenue in 2018 than in the year prior, but the Pittsburgh-based health system's operating income declined year over year. After factoring in expenses, which climbed 21 percent year over year, UPMC ended 2018 with operating income of $166 million. That's down $80 million, or 32 percent, from 2017.
3. Toldeo, Ohio-based ProMedica saw its operating results improve in the 2018 fiscal year, but ended the 12-month period with a net loss. After including nonoperating results, and $30.2 million in restructuring and severance costs, ProMedica ended fiscal 2018 with a $70 million net loss, compared to net income of $134.5 million in fiscal 2017.
4. Oklahoma City-based Integris saw its operating results improve in the first half of its most recent fiscal year; however, investment losses pulled down the nonprofit health system's bottom line. After factoring in nonoperating results, Integris ended the most recent six-month period with a $49.6 million net loss, compared to net income of $40.9 million for the prior period.
5. South Bend, Ind.-based Beacon Health System saw its revenue increase in fiscal year 2018; however, the health system ended the year with a net loss due in part to investment performance. After including nonoperating results, including a $118.1 million settlement loss, Beacon Health ended fiscal 2018 with a $79.8 million net loss, compared to net income of $120.3 million in the year prior.
6. Portland-based MaineHealth saw its operating performance improve in the first quarter of fiscal 2019; however, investment losses pulled down the nonprofit health system's net income year over year. After including a $28.4 million decrease in its fair value investments, MaineHealth ended the first quarter of 2019 with net income of $1.6 million, down from $41.2 million in the same quarter a year prior.
7. Orlando (Fla.) Health ended the year with a net loss after reporting a loss on investments for the three months ended Dec. 31, 2018. After including a $79.8 million loss on investments, Orlando Health ended the most recent quarter with an $8.4 million net loss, compared to net income of $115.6 million in the same period a year prior.
8. Providence, R.I.-based Lifespan saw revenues increase in the quarter ended Dec. 31, 2018, but ended the three-month period with a net loss. After including nonoperating results, Lifespan ended the quarter with a $28.6 million net loss, compared to net income of $5.1 million in the same quarter a year prior.