Healthcare Business News

New York's Strong Memorial sees gains in 2013

By Rachel Landen
Posted: August 12, 2014 - 5:45 pm ET

Strong Memorial Hospital, Rochester, N.Y., reported stronger financial results for 2013 as operational revenue climbed and gains from investment activity drove its surplus higher.

While total discharges were down for the year, total patient days and clinic visits at the University of Rochester-affiliated facility were up. Strong Memorial, which serves as a teaching hospital and a referral center serving western New York, saw a 7% increase in its number of outpatient visits (PDF) from 1.17 million in 2012 to 1.25 million for the year ending Dec. 31, 2013.

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Overall, annual revenue improved to $1.3 billion (PDF), up 9% from $1.2 billion in the previous year. Even with rising expenses, Strong Memorial reported in its audited financial statements a 28.2% surge in operating income to $123.3 million, up from $96.1 million a year ago.

But the 771-bed not-for-profit hospital’s net surplus experienced the biggest boost, rising 63.1% with the help of gains from investment income, interest income and interest rate swap agreements. Strong Memorial finished its 2013 calendar year with a $155.2 million surplus after ending 2012 with a $95.2 million surplus.

Follow Rachel Landen on Twitter: @MHrlanden

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