Nor­ton rides in­vest­ment gains to big 2016 sur­pluses

Modern Healthcare - - REGIONAL NEWS - —Dave Barkholz

Nor­ton Health­care in Ken­tucky saw strong in­vest­ment gains, an area that has helped other health sys­tems score earn­ings wins for the year.

Nor­ton, a five-hos­pi­tal, not-for-profit sys­tem, had the strong­est earn­ings in 2016 among the four main com­peti­tors in Louisville, in­clud­ing the Uni­ver­sity of Louisville Hos­pi­tal, Bap­tist Health and Ken­tuck­yOne.

Op­er­at­ing in­come slipped slightly for the year, ac­cord­ing to the sys­tem's fi­nan­cial dis­clo­sures. Nor­ton posted op­er­at­ing in­come of $125.3 mil­lion on rev­enue of $2.1 bil­lion com­pared with op­er­at­ing in­come of $130.2 mil­lion in 2015 on rev­enue of $2 bil­lion.

In­vest­ment in­come, how­ever, in­creased to $23.3 mil­lion in 2016 com­pared to an in­vest­ment loss of $36 mil­lion in 2015. Taken to­gether with other non-op­er­at­ing in­come, Nor­ton posted a higher net sur­plus in 2016.

Adam Kempf, Nor­ton se­nior vice pres­i­dent of fi­nance, said fi­nan­cial mar­kets gen­er­ally were a lit­tle stronger in 2016 giv­ing rise to bet­ter in­vest­ment in­come for the sys­tem.

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