UnityPoint Health reported operating revenues of $2.2 billion for the six months ended June 30, up 5.8 percent compared to the same time period in 2017.
Here are four financial updates from the nonprofit health system, according to unaudited bondholder documents.
1. The system's increased revenues recognized a one-time $10.5 million gain related to the sale of certain core network fiber assets. UnityPoint also said it realized significant savings in its risk-based ACO contracts. The system recognized $13.2 million in shared savings for the six months ended June 30, compared to an expected $3.3 million.
2. At the same time, UnityPoint saw its total operating expenses climb 6.1 percent in the six months ended June 30 to $2.2 billion when compared to the same period in 2017. The increase was mainly driven by affiliations and acquisitions that took place in the first quarter of 2018.
3. UnityPoint recorded operating income of $32.8 million in the first half of this year, down from $38 million in the same period of 2017. After seeing a $112.3 million decrease in nonoperating gains, UnityPoint ended the first half of this year with net income of $70.7 million. That's down from $181.7 million reported at this time last year.
4. UnityPoint estimates a $25 million improvement in revenue cycle, labor expenses and supply costs this year, and believes this goal is attainable based on performance to date.