Greenville, S.C.-based Prisma Health saw its net income more than triple in the three months ended Dec. 31, according to financial documents released Feb. 16.
Prisma Health recorded a net income of $233.2 million in the quarter, up from $73.6 million recorded in the same quarter one year prior. The rise in net income was largely driven by nonoperating gains of $206 million in the quarter.
Prisma's total revenue for the three months ended Dec. 31 increased 10.3 percent to $1.3 billion. Expenses also grew in the quarter to $1.3 billion, up from $1.2 billion recorded in the same quarter one year prior.
Prisma Health ended the quarter with an operating income of $27.2 million. Prisma said the operating gain was primarily due to patient volume and continued cost management initiatives that were put in place at the beginning of the pandemic.
"While uncertainties continue to exist with the ongoing impact of the COVID-19 pandemic, including the extent to which the pandemic could continue to adversely impact Prisma Health’s operations and financial performance, performance through December supports continued recovery to near pre-COVID-19 patient volumes," Prisma said in the financial report. "Management continues to exercise readiness and financial discipline, operating with the assumption that surges in COVID-19 patient demand and additional restrictions and advisories imposed by the federal and state governments may occur again [in] the near term."