Dignity Health reports $85M operating loss in Q3


http://www.beckershospitalreview.com/finance/dignity-health-reports-85m-operating-loss-in-q3.html

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San Francisco-based Dignity Health saw a decrease in revenue in the third quarter of fiscal year 2017, according to an unaudited quarterly report.

The nonprofit health system reported revenues of $3.14 billion for the three-month period ended March 31, down about 2 percent from $3.2 billion in the same period the year prior. Dignity partially attributed lower revenues to a $111.3 million decrease in net patient and premium revenue over the same period in the previous fiscal year.

The system’s operating loss more than doubled in the third quarter when compared with the same period last year. For the three-month period, the health system recorded operating losses of $85.4 million, up from $41.7 million in the same period the year prior.

Dignity attributed the loss to several factors, including unrecognized provider fee income during the period, which is pending CMS approval. The system recorded provider fee income of $108.9 million in the third quarter of the previous fiscal year.

For the nine months ended March 31, Dignity reported an operating gain of $79.5 million, up from an operating loss of $87.1 million for the same period in the prior year.

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