Quarterly revenue for the Renton, Wash.-based system rose 5.5% to $2.9 billion from $2.7 billion in the first quarter of 2013. The increase came despite a 2.5% drop in inpatient admissions. However, primary care and continuum services—long-term care, hospice, housing, assisted living and home health—saw some improvements in number of visits over the prior year.
Primary-care visits for the first quarter were up 12% over the previous one. Growth of Providence's primary care and alignment with physician partners is a top strategic priority for the system, according to its latest financial report.
Revenue also stayed higher even as the continued delay in Washington's provider tax program reduced Medicaid funding by $10 million. Medicaid revenue for the quarter increased $73 million as patients shifted from self-pay to Medicaid expansion programs and as additional Medicaid funding from provider tax programs in Oregon and California boosted top-line results. These programs are designed to increase Medicaid funding through provider taxes and matching funds, but the federal version is still awaiting final CMS approval.
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