In a financial report for fiscal 2013 (PDF), ended June 30, Wellmont reported a surplus of $31.4 million on revenue of $798.2 million. That represented a deterioration from its $39.8 million surplus on $788.4 million in revenue the previous fiscal year.
Yet Wellmont stressed that despite its financial challenges, it is continuing to make investments in its community (PDF).
The system said that it provided an $86 million community benefit in fiscal 2013, including $70 million in uncompensated care and $6 million in health and wellness programs. Wellmont hospitals write off all charges for uninsured patients making less than twice the federal poverty level and 60% of charges for patients above that threshold.
Other investments included building its electronic health-record capabilities, including the MyWellmont patient portal; expanding its cancer-care facilities and adding new technology for radiation oncology; and opening urgent-care facilities in two markets and remodeling two emergency departments.
Follow Beth Kutscher on Twitter: @MHbkutscher