West Des Moines, Iowa-based UnityPoint Health's operating income jumped 338.5 percent in the three months that ended March 31, to $19.3 million, as the system's net patient service revenue and premium revenue increased, according to UnityPoint's recently released unaudited consolidated statements of operations.
The system reported revenue of $936.6 million for the first quarter of fiscal 2015, up 5 percent from the comparable period of last year, with net patient service revenue increasing 6 percent.
The system's expenses were up 3.4 percent in the first quarter of fiscal 2015 compared to the same period of 2014, with supply costs growing to $136.9 million, up from $123.3 million in the same period a year ago.
With the boost in revenue and only a moderate increase in expenses, UnityPoint's operating income soared in the first quarter. However, the system's nonoperating gains fell to $37.7 million from $458.5 million in the comparable period of 2014, causing UnityPoint to end the first quarter with net income of $57 million, down 87.7 percent from the same period of last year.
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