Novant Health sees operating income drop 32.3%

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Winston-Salem, N.C.-based Novant Health saw operating income drop 32.3 percent year-over-year in the second quarter of fiscal year 2017 to $39.7 million, according to unaudited financial documents.

The health system recorded a 2.2 percent year-over-year increase in operating revenue in the second quarter of this year, to $1.11 billion. However, the system saw operating expenses increase 5 percent year-over-year to $994 million.

Including expenses, Novant saw net income drop 2.8 percent year-over-year for the second quarter ended June 30 to $83.9 million.

Becker’s Hospital Review reached out to Novant Health for further explanation of its second quarter financial performance. The system did not provide any additional information.

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