Livonia, Mich.-based Trinity Health’s operating income before other items increased 76 percent year over year to $266.1 million in fiscal year 2017, as the 93-hospital health system benefited from acquisitions, according to bondholder documents.
Trinity Health said revenues increased 7.9 percent year over year to $17.6 billion in the most recent fiscal year. The revenue was largely attributable to the acquisition of health systems in Connecticut, as well as volume growth, revenue cycle initiatives and payment rate increases. The system also benefited from ACO and bundled payment improvement initiatives and premium revenue from the system’s Medicare Advantage plans.
After factoring in expenses, which increased 7.3 percent year over year, as well as restructuring and impairment charges, Trinity ended the fiscal year with net income of $1.3 billion, up from $41.3 million for the year prior. The net income growth was primarily attributable to an increase in nonoperating items.