Tufts Medical Center recorded net income of approximately $5.6 million for the third quarter of fiscal year 2015, a 67 percent drop from the same period last year, when the Boston-based medical center recorded a $16.9 million profit.
This drop is due in part to significantly less investment gains realized this quarter over the third quarter of 2014. However, the medical center brought in $182.6 million in revenue in the three months ended June 30, nearly a 3 percent increase over the same period last year. For the six months ending June 30, the system recorded $527 million in total revenue, up 2.9 percent from $512.5 million last year.
Inpatient admissions at Tuft's facilities increased year-over-year by 4.6 percent while outpatient visits dipped 1.3 percent for the third quarter of this year.
Year-to-date, Tufts has brought in net income of $9.4 million, a 41 percent decrease from $16.1 million this time last year.
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