Orlando (Fla.) Health saw revenues and operating income increase in fiscal year 2017, according to recently released bondholder documents.
In fiscal year 2017, Orlando Health recorded revenues of $2.68 billion, up from revenues of $2.46 billion in the year prior. The financial boost was attributable to higher net patient service revenue, which increased 7 percent year over year.
Orlando Health's expenses also grew in the most recent fiscal year. The system recorded expenses of $2.46 billion in fiscal year 2017, compared to expenses of $2.28 billion in fiscal year 2016.
The system, which owns six acute care hospitals, ended fiscal year 2017 with operating income of $217.4 million, up 26 percent from operating income of $172.7 million in the year prior.
After factoring in nonoperating gains of $112.4 million, Orlando Health posted net income of $331.7 million in fiscal year 2017, compared to net income of $209.5 million in fiscal year 2016.
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