Orlando (Fla.) Health posted an operating income of $126.9 million in the second quarter of 2024, down from $134.7 million posted over the same period last year, according to its May 23 financial report.
The health system attributed the decrease to the decline in net gain from the Florida Supplemental Low-Income Pool payment program.
The health system saw total revenues of $1.8 billion for the quarter ended March 31, a 16.3% increase over the same period last year. Net patient revenue increased 12.4%. Adult admissions increased 16.4% and emergency room visits increased 10.1% year over year.
Total expenses for the quarter were $1.6 billion, an 18.5% increase over the same period last year. Orlando Health attributed increased volume and increases in supply and labor costs.
The system posted a net income of $328.9 million in the quarter, up from $233.3 million posted over the same period in 2023.
For the six months ended March 31, the system had an operating income of $247.7 million, up from $213.3 millipn over the same period in 2023. Six-month net income was $663.7 million, up from $498 million.