CHI growth de­liv­ers gains in first quar­ter

Modern Healthcare - - REGIONAL NEWS - —Me­lanie Evans

Catholic Health Ini­tia­tives ended its first quar­ter with an op­er­at­ing sur­plus as ex­pan­sion and pa­tient de­mand helped boost rev­enue. But poor in­vest­ment re­turns drained cash from the sys­tem’s bal­ance sheet and left CHI with a net loss for the quar­ter.

More pa­tients vis­ited CHI’s hos­pi­tals, emer­gency de­part­ments and clin­ics dur­ing the three months that ended Sept. 30 than dur­ing the same pe­riod a year ago, con­tribut­ing to an 11% in­crease in rev­enue from treat­ing pa­tients.

The En­gle­wood, Colo.-based sys­tem, which op­er­ates in 18 states, also re­ported a rev­enue gain of $141.7 mil­lion from a joint man­age­ment and op­er­at­ing agree­ment with Long­mont (Colo.) United Hos­pi­tal.

Since the first quar­ter of 2014, CHI has ac­quired sev­eral hos­pi­tals. Fast growth has strained the sys­tem’s fi­nances, but CHI slashed ex­penses last year to turn around its losses and end the year with a sur­plus.

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