Detroit-based Henry Ford Health System saw revenues increase in 2017, but the health system ended the period with lower net income than in the year prior.
In 2017, Henry Ford Health System reported net income of $203.7 million on revenues of $6 billion. That's compared to 2016, when the system recorded net income of $275.6 million on revenues of $5.7 billion, according to recently released bondholder documents.
Henry Ford Health System saw net patient service revenue increase in 2017 due to increased outpatient volume. The system also saw its investment income rise year over year.
However, management said those gains were partially offset by wage rate increases and Epic implementation costs at Allegiance Health Group in Jackson, Mich., which Henry Ford Health System acquired in 2016.
After eliminating unusual items, the system's net income increased from $95.1 million in 2016 to $146.5 million in 2017.
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