Adventist Health sees net income jump 36% in FY 2017
Roseville, Calif.-based Adventist Health recorded revenue of $4.1 billion in the fiscal year ended Dec. 31, 2017, up 5.8 percent from $3.9 billion in fiscal year 2016.
Here are three takeaways from the 19-hospital system's recently released bondholder documents.
- The nonprofit system saw operating income rise 11.6 percent in 2017 to $203.9 million, up from $182.8 million a year prior.
- At the same time, Adventist saw expenses increase 5.5 percent to $3.9 billion, compared to $3.7 billion reported in the previous fiscal year, due in part to rising labor and supplies costs.
- After including non operating gains, Adventist achieved net income of $229.8 million in 2017, a 36 percent hike compared to the $169.1 million it generated in 2016.