In the third quarter of the 2012 fiscal year, the University of Pittsburgh Medical Center (pdf) experienced a mild 3.7 percent increase in net income compared with the third quarter of 2011.
UPMC's excess of revenues over expenses totaled $210.7 million, up from last year's third quarter total of $203.1 million. Total operating revenue increased 4 percent, from $2.36 billion to $2.46 billion, while total operating expenses went up 5.9 percent.
Key operating metrics were also up compared with the same period last year. Outpatient revenue was up 21 percent, UPMC Health plan membership rose 15 percent, total hospital admissions and observations grew 11 percent, physician revenue increased 8 percent and the number of employed physicians ballooned 13 percent to a total of 3,266.
For the nine months ended March 31, 2012, UPMC's net income is $234.3 million, far below the $630.6 million recorded in the first nine months of FY 2011. The UPMC Hamot affiliation and large investment losses contributed most to UPMC's lower income totals. However, total year-to-date operating revenue is $7.21 billion, up from $6.47 billion last year.
UPMC's excess of revenues over expenses totaled $210.7 million, up from last year's third quarter total of $203.1 million. Total operating revenue increased 4 percent, from $2.36 billion to $2.46 billion, while total operating expenses went up 5.9 percent.
Key operating metrics were also up compared with the same period last year. Outpatient revenue was up 21 percent, UPMC Health plan membership rose 15 percent, total hospital admissions and observations grew 11 percent, physician revenue increased 8 percent and the number of employed physicians ballooned 13 percent to a total of 3,266.
For the nine months ended March 31, 2012, UPMC's net income is $234.3 million, far below the $630.6 million recorded in the first nine months of FY 2011. The UPMC Hamot affiliation and large investment losses contributed most to UPMC's lower income totals. However, total year-to-date operating revenue is $7.21 billion, up from $6.47 billion last year.
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