Bon Secours posts lower operating income amid outpatient shift
Bon Secours Health System saw its operating income dip in the past nine months as it prepares for increasing outpatient business and population health management returns.
The 19-hospital Catholic system based in Marriottsville, Md., posted operating income of $58.1 million on revenue of $2.5 billion for the nine months ended May 31, according to Bon Secours’ latest financial disclosure. That compares with operating income of $81.3 million on revenue of $2.4 billion in the same period last year.
Strong investment returns more than covered the operating decline. Bon Secours posted an investment gain of $74.6 million during the period compared with an investment loss of $15.3 million in the year-earlier nine months. This year’s gain helped the not-for-profit system achieve a net surplus of $105.1 million compared with $33.8 million in the year-ago period.
Outpatient volume across the system rose 2% to 729,793 visits from 716,410 in the year-ago nine months, while hospital discharges fell slightly to 75,722 from 76,058, the system reported.
Bon Secours operates in Florida, Kentucky, Maryland, New York, South Carolina and Virginia.