Investment loss crimps Texas Children’s finances
Texas Children’s Hospital in Houston enjoyed a big surge in revenue and operating surplus in its fiscal 2015 ended Sept. 30, but also saw a major reversal in its investment returns for the year, according to audited financial documents.
The pediatric health system saw its 2015 operating surplus jump 54% to $120.2 million on revenue of $2.84 billion. That compares with last year’s operating surplus of $78 million on revenue of $2.56 billion.
But the system suffered a big loss on investments. It posted a loss in investment return of $68.7 million in 2015, compared with a gain of $144.7 million last year.
The not-for-profit system includes a 490-bed pediatric hospital and a 115bed obstetrics and gynecological hospital within Houston’s Texas Medical Center. It also owns a 44-bed pediatric hospital in west Houston, several urgent-care centers and an insurance plan.