Columbia-based University of Missouri Health Care ended fiscal year 2018 with more than $1 billion in revenue and operating income of $104 million, according to recently released financial documents.
MU Health Care's financial results for fiscal year 2018 were an improvement from the year prior, when the health system reported operating income of $98.5 million on revenue of $944.7 million. The most recent fiscal year also marked the first time the health system hit the two major financial milestones of $1 billion in revenue and $100 million in operating income, according to Columbia Daily Tribune.
The health system's strong financial performance was partially attributable to patient volume growth. The system had a higher average daily census and more clinic visits in fiscal 2018 than in the year prior. Surgeons at MU Health Care also performed more surgeries in the most recent fiscal year.
MU Health Care CEO Jonathan Curtright provided details on the health system's growth Sept. 10 during a presentation to the University of Missouri Board of Curators Health Affairs Committee. He said the system's market share in its 25-county service area has grown from 22.4 percent to 28.5 percent since 2013, according to the report.
Mr. Curtright also shared an update on MU Health Care's negotiations to acquire two Missouri hospitals from St. Louis-based SSM Health. The parties signed a letter of intent in August, and they're currently in the due diligence phase, which is "progressing nicely," according to Mr. Curtright.
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