Philadelphia-based Temple University Health System saw its financial position improve in fiscal year 2019, according to recently released financial documents.
In the 12 months ended June 30, the health system reported operating income of $37.74 million, compared to an operating income of $17.23 million the year prior.
The health system had revenue of $2 billion in fiscal year 2019, up from $1.85 billion in 2018. The increase was attributed in part to higher net patient service revenue and higher research revenue.
Temple University Health System also saw expenses rise to $1.96 billion in fiscal year 2019, up from $1.84 billion the year prior. Pharmaceutical and supply expenses saw the biggest hike, growing $69 million year over year. Expenses also were related to salaries, benefits and professional fees.
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