Stanford (Calif.) Health Care saw revenues and operating income rise in the first quarter of fiscal year 2018, which ended Nov. 30, 2017, according to recently released bondholder documents.
The health system reported revenues of $1.16 billion in the first quarter of fiscal year 2018, up from revenues of $1.07 billion in the same period of the year prior. The system’s net patient revenue and premium revenue climbed 6 percent and 12 percent year over year, respectively.
Stanford Health Care kept expenses in check in the first quarter of this fiscal year. The system reported operating expenses of $1.08 billion, up 3.7 percent from the same period a year earlier.
The system ended the first quarter of fiscal year 2018 with operating income of $74.3 million, more than double the operating income of $28 million it reported in the first quarter of fiscal year 2017.
Stanford Health Care is part of Stanford Medicine, which also includes the Stanford University School of Medicine and Stanford Children’s Health.