The Ohio State University Wexner Medical Center in Columbus reported strong revenue in the fiscal year ended June 30, according to Columbus Business First.
The nonprofit medical center recorded revenue of more than $4 billion in fiscal year 2019, up 9.4 percent from the year prior, the newspaper reported, citing its analysis of financial results. The growth was partially attributable to a 4 percent year-over-year increase in inpatient admissions.
After factoring in expenses, Ohio State Wexner’s operating income reached $402 million in the fiscal year ended June 30. That’s the highest total since fiscal year 2015, when the medical center posted operating income of $358 million.
The financial results come as Ohio State Wexner plans inpatient and outpatient expansion projects, according to Columbus Business First. An 840-bed hospital tower and a parking garage are on the drawing board.