Temple University Health System doubles annual operating income


The health systems business expenses climbed up 11.9 percent year over year to $2.2 billion in the 12 months ended June 30. Expenditures increased across a lot of classifications, consisting of wages and employee benefits..

Temple University Health Systems net earnings climbed up nearly 93 percent year over year to $95 million..

Temple University Health System ended the 12-month duration with operating income of $78.6 million, up from $37.7 million a year previously..

More short articles on healthcare financing: Financial fallout from COVID-19: 9 medical facilities laying off workersOIG tags Arizona health center for incorrect billingChicago medical facility beats allegations of ghost payroll scheme

The health system reported earnings of $2.27 billion in the ended June 30, up from $2 billion in the very same duration a year previously. Total net patient service revenue increased 7.7 percent year over year..

Philadelphia-based Temple University Health System saw its financial position improve in the 12 months ended June 30, according to unaudited monetary documents.

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this material? View our policies by click on this link.

The health system said the COVID-19 pandemic drove reductions in patient volumes across all of its campuses. It got $90 million in payments under the Coronavirus Aid Relief and Economic Security Act in the quarter ended June 30 to help balance out losses connected to the pandemic..