CCF Inome, In-Patient Admissions UP this year. A new trend?
Posted: Tue Aug 18, 2015 10:41 am
CCF First Quarter was pretty good - operating income UP a whopping 45%, thanks to those 80% more Medicaid patients!
And what a surprise! In-patients admissions were up 3%!
Is this the start of a new trend? We know how rapidly healthcare changes!
http://www.beckershospitalreview.com/finance/cleveland-clinic-operating-income-jumps-45-in-q1-5-key-points.html
And what a surprise! In-patients admissions were up 3%!
Is this the start of a new trend? We know how rapidly healthcare changes!
http://www.beckershospitalreview.com/finance/cleveland-clinic-operating-income-jumps-45-in-q1-5-key-points.html
Cleveland Clinic reported operating income of $60.7 million for the first quarter of fiscal 2015, up 45.1 percent from the same period a year ago, as the system saw fewer self-pay patients and more patients covered by Medicaid.
Here are five key points from Cleveland Clinic's first-quarter financials.
1. The system posted $1.6 billion in revenue for the first quarter, up 3.3 percent from the same period of last year, with net patient service revenue increasing 0.5 percent.
2. The system's expenses for the first quarter were $1.44 billion, up slightly from $1.42 billion in the same period of last year.
3. Inpatient admissions at Cleveland Clinic's facilities were up 3 percent in the first quarter of fiscal 2015 compared to the same period of 2014.
4. Cleveland Clinic saw nearly 51 percent fewer self-pay patients and 80 percent more Medicaid patients in the first quarter of fiscal 2015 compared to the same period of last year.
5. Cleveland Clinic reported net income of $163.9 million for the first quarter of fiscal 2015, up 88.8 percent from the same period a year ago.
