Houston-based Texas Children's saw revenues increase in the first quarter of fiscal year 2019, partially due to higher patient volume, according to unaudited financial documents released Feb. 21.
Four things to know:
1. Texas Children's reported operating revenues of $1.01 billion in the three months ended Dec. 31, up from revenues of $949.26 million in the same period a year earlier.
2. Higher patient volume boosted the hospital's revenue. Texas Children's said admissions and surgery cases climbed 3.5 percent and 6.3 percent, respectively, year over year.
3. After factoring in expenses, which climbed 8 percent year over year, Texas Children's ended the first quarter of fiscal 2019 with operating income of $17.37 million. That's down 39 percent from the first quarter of fiscal 2018, when Texas Children's reported operating income of $28.28 million.
4. Texas Children's Health Plan ended the first quarter of the current fiscal year with an operating loss of $15.6 million, a decline of more than $20 million from the same period a year earlier. The health plan's loss was driven by an increase in claims expenses, according to the financial documents.
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