Owensboro (Ky.) Health, which recently agreed to partner with Optum, reported positive income in its second quarter earnings report even as expenses continued to rise.
The health system said it had net operating income at the end of the second quarter Nov. 30, 2022 of $13.8 million compared with $18.6 million in the same period last year. Expenses were up 7 percent during the first six months of the fiscal year, totaling $426.3 million, "primarily driven by personnel and drugs/supplies," Owensboro management said.
The health system, which operates three hospitals in its home state and Indiana, reported 168 days of cash on hand, 40 days less than in 2022. It has no major capital projects planned.
Owensboro said Jan. 10 it would partner with Optum for revenue cycle management and information technology operations, with 575 of its employees transferring over to Optum in April.