Tufts re­ports im­proved mar­gin for quar­ter

Modern Healthcare - - REGIONAL NEWS - —Beth Kutscher

Tufts Med­i­cal Cen­ter in Bos­ton im­proved its fi­nan­cial per­for­mance in the third quar­ter of its fis­cal year thanks to higher out­pa­tient vol­ume and tightly man­ag­ing its ex­penses.

Tufts reg­is­tered a $16.9 mil­lion sur­plus on rev­enue of $177.3 mil­lion for the quar­ter ended June 30, an im­prove­ment from the $1.8 mil­lion sur­plus on $164.1 mil­lion in rev­enue for the year-ago, the hos­pi­tal re­ported in an earn­ings state­ment. Higher op­er­at­ing in­come and higher in­vest­ment in­come con­trib­uted to those re­sults.

Fitch Rat­ings af­firmed a BBB rat­ing with a sta­ble out­look on two se­ries of Tufts bonds.

The 284-bed med­i­cal cen­ter still has a neg­a­tive op­er­at­ing mar­gin for the first nine months of its fis­cal year, which ends Sept. 30. But most of its chal­lenges—in­clud­ing weak pa­tient vol­ume and sev­eral one-time ex­penses—came in the first quar­ter of the fis­cal year, Fitch said in its rat­ings re­port.

At the same time, Tufts’ ex­penses have in­creased only 1.1% year over year in the nine-month pe­riod and vol­umes, at least on the out­pa­tient side, im­proved in early 2014.

Ad­mis­sions in the third quar­ter de­clined 11.3% year over year but out­pa­tient vis­its in­creased 3.7%. Emer­gency room vis­its in­creased 4.6%.

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