Morgan Haefner: Ascension's Operating Income Climbs 41%, 5 Takeaways

1. The roughly 140-hospital system partially attributed its operating results to a year-over-year increase in net patient service revenue of $990 million.
2. The health system saw its operating income jump 40.8 percent year-over-year from $456 million to $642 million for the nine-month period.
3. Ascension's operating expenses increased 1.1 percent year-over-year to $163.2 million in the period due to increased revenue cycle management fees as the system transitions to a new system.
4. The system recorded net income of $1.5 billion in the nine months ended March 31, compared to a $67 million loss recorded in the same period a year prior.
5. The strong results come as Ascension is "repositioning its portfolio of care delivery sites" with greater investments in outpatient assets.

Source: Becker's Hospital Review
Source URL: http://www.beckershospitalreview.com/finance/ascension-s-ope...

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