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Novant Health sees operating income jump 115.2%

 

Novant Health reported operating income of $42.3 million in the three months that ended March 31, up 115.2 percent from $19.7 million in the same period of the year prior.

The Winston-Salem, N.C.-based system said operating revenues increased nearly 7 percent year over year to $1 billion in the three-month period that ended March 31. The financial boost was partially attributable to an increase in net patient service revenue. Although inpatient discharges were down, emergency department visits and surgical cases were up in the first three months of 2016.

After factoring in an investment loss, Novant ended the period with net income of $56.4 million, up 22.1 percent from $46.1 million in the same period of the year prior.