Orlando (Fla.) Health ended the year with a net loss after reporting a loss on investments for the three months ended Dec. 31, 2018, according to unaudited financial documents.
Orlando Health saw its revenues fall by $127 million to $788.8 million in the most recent quarter, compared to $915.8 million in the same period a year prior. The nonprofit health system largely attributed the change to the exclusion of Lakeland (Fla.) Regional Health, as the hospital and Orlando Health ended their one-year affiliation Sept. 30, 2018.
Orlando Health also saw its expenses decrease in the most recent quarter due to the exclusion of Lakeland Regional. Orlando Health posted expenses of $713.2 million in the most recent quarter, down 15.1 percent from $840.4 million in the same quarter a year earlier.
For the three-month period, Orlando Health posted operating income of $75.6 million, unchanged from the same period a year earlier.
After including a $79.8 million loss on investments, Orlando Health ended the most recent quarter with a $8.4 million net loss, compared to net income of $115.6 million in the same period a year prior.
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