growth, coupled with a decline in expenses, contributed to another improved quarter for Tampa (Fla.) General Hospital, which reported fiscal third-quarter results Friday.
But it was a surge in revenue from non-operating activities that fueled the not-for-profit hospital's 16.2% excess margin, up from 6.1% in the previous quarter. The 1,018-bed Tampa General reported $27.8 million in non-operating revenue for the quarter (PDF)
, which was nearly 663% higher than the $3.6 million in non-operating revenue reported during the second quarter.
Realized gains on the sale of securities, along with non-operating interest income, made up the majority of that activity. In fact, the results fall in line with a recent trend among hospitals reporting higher surpluses as a result of rising investment income
. Better returns on their investment portfolios have helped some providers make up for operating shortfalls that have occurred as lower patient volumes and reimbursement cuts have chipped away at their top-line numbers.
Yet despite industry pressures and a competitive Tampa market dominated by large health systems, Tampa General reported a gain from operations of $18.3 million on $268.6 million in revenue for the quarter ended June 30. That is up from a $12.5 million gain on $265.4 million in revenue during the second quarter.
Year-to-date, the hospital’s surplus is at $73.7 million on $793.1 million in revenue, representing a 55% improvement over the prior year.
Also year-over-year, Tampa General has experienced a rise in patient volume—1.8% for the first nine months—and performed 2.2% more surgeries than at this same time last year.Follow Rachel Landen on Twitter: @MHrlanden