San Diego-based Scripps Health saw its operating income increase and its net income fall during fiscal year 2018, according to recently released audited financial documents.
Scripps reported revenues of $3.2 billion in fiscal 2018, which ended Sept. 30. That's up from revenues of $2.9 billion in fiscal 2017. The year-over-year boost was largely attributable to higher net patient service revenue.
After adding in expenses, which climbed 10.7 percent year over year, Scripps ended fiscal 2018 with operating income of $85.7 million. That's up 25 percent from fiscal 2017, when the health system recorded operating income of $68.4 million.
Like many other health systems, Scripps' investment income declined in fiscal 2018. After factoring in investment income and other nonoperating income, Scripps ended fiscal 2018 with net income of $225.5 million, compared to $350.2 million in the year prior.
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