Columbus-based OhioHealth saw revenue increase in fiscal year 2018, but growing expenses offset the health system's financial gains, according to recently released financial documents.
OhioHealth's revenue totaled $4.05 billion in fiscal year 2018, up 5.4 percent from $3.84 billion in the year prior. Fiscal 2018 marked the first time the system's annual revenue topped $4 billion, according to Columbus Business First.
The system's expenses also increased in the most recent fiscal year, which ended June 30. OhioHealth recorded operating expenses of $3.81 billion in fiscal 2018, up 6.9 percent from $3.57 billion in the year prior.
OhioHealth ended fiscal 2018 with operating income of $234.13 million, down from $272.03 million in fiscal 2017. After factoring in nonoperating income, OhioHealth's net income totaled $512.22 million in the most recent fiscal year, down from $610.62 million in the year prior.
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