In the first nine months of fiscal year 2019, Louisville, Ky.-based Norton Healthcare saw its profit increase 48.4 percent to $106.2 million, according to Louisville Business First.
For the third quarter ended Sept. 30, Norton Healthcare reported operating income of $29.2 million, up 17.2 percent from the same period in 2018.
Norton Healthcare also reported revenue of $640 million in the third quarter, bringing the system's total revenue through September to $1.7 billion. This is about 9.5 percent higher than the same nine-month period last year. Hospital officials attributed the revenue growth to an increased patient volume across its facilities.
The system also reported an increase in expenses, mainly from labor costs, which have grown 7 percent to $959.7 million through September.
More articles on healthcare finance:
Texas hospital operator files for bankruptcy
How CHS, Tenet, HCA and UHS fared in Q3
CMS finalizes hospital price transparency rule: 6 things to know