Trinity Health's financial results weighed down by EHR costs
- Livonia, Michigan-based Trinity Health reported operating income of $136 million during fiscal year 2018, a marked increased from an $18 million loss last year.
- The gain comes despite steep impairment charges incurred during the year, including $108 million related to the conversion to a single EHR for the system that operates 94 hospitals in 22 states.
- Revenue increased 4% to $18.3 billion, according to the system's audited financial results. Hospital discharges for the year were flat and outpatient visits increased by about 1 million visits to 20 million for the year.
Somewhat bucking industry trends, Trinity reported slight revenue increases in both outpatient and inpatient services. Expenses increased 3.4% for the system for the year. A part of that increase was related to the March 1 acquisition of Berwyn, Illinois-based MacNeal Hospital and MacNeal Health Providers from Tenet Healthcare.
Other major health systems have also reported their year-end results.
San Francisco-based Dignity Health reported a significant improvement in its operating income as the system marked its second year amid a financial improvement plan. Dignity's outpatient services slightly declined while revenue tied to inpatient services saw a small increase.
While Catholic Health Initiatives experienced an income boost for the year, the Englewood, Colorado-based health system saw both admissions and many outpatient visits decline. Although physician visits increased almost 4% year-over-year for the system,non-emergent outpatient visits fell 2.8% and outpatient surgeries were down 2.6%.
Dignity and CHI are still working on combining, the two are still awaiting regulatory approval to create the largest nonprofit health system in the country.