Revenue, expenses rise at Children’s Hospital of Philadelphia
Children’s Hospital of Philadelphia saw a rise in its total revenue in fiscal 2015, but higher expenses cut into those gains.
The hospital reported $210 million in operating surplus on $2.4 billion in total revenue for the fiscal year ended June 30, compared with $211.5 million in operating surplus on $2.2 billion in total revenue last year.
Salaries, wages and professional fees rose 6.2% this year, and employee benefits soared 14.7% in 2015 over last year.
Margins eroded slightly, falling to 8.9% this year from 9.5% the prior year. The hospital’s operating surplus dipped 0.7% this year.
Admissions grew 3.2% this year over last, and patient days were up 2.1%, to 162,390. Total ambulatory visits were up 5.2% for 2015.