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July 25, 2014 01:00 AM

Sentara's first half benefits from transactions, more heart surgeries

Bob Herman
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    Sentara Healthcare, Norfolk, Va., reported a higher operating surplus and total revenue in the six months ended June 30 as the system started to reap rewards from two recent transactions and higher volumes in two service lines.

    Last July, Sentara completed its merger with Halifax Regional Health System. The South Boston, Va.-based organization includes 438 beds across its hospital and long-term care facilities. The transaction was valued at $155 million, with $115 million of that total set aside for capital investments over the next decade.

    Sentara also finalized a long-term lease to operate Albemarle Health in Elizabeth City, N.C., which includes an 89-bed community hospital. Vidant Health in Greenville, S.C., previously operated Albemarle.

    Related Content

    Expansion erodes operating margin at Sentara while Aurora curbs expenses

    Sentara's total revenue in the first half of fiscal 2014 rose by almost 8%, or $166.7 million, to $2.29 billion. The Halifax and Albemarle deals accounted for almost 60% of that increase. However, like its year-end results for 2013, the expansion added expenses to the balance sheet.

    The system also said cardiac surgeries and outpatient imaging volumes increased 7.1% and 6.1%, respectively, in the past six months, which helped boost net patient service revenue.

    Sentara's operating surplus inched ahead 1.7% to $141.6 million, giving the system an operating margin of 6.2% in the first half of 2014 compared with last year's 6.6% figure. The total surplus fell 3% to $236.4 million, as Sentara's investment gains were lower year over year.

    Follow Bob Herman on Twitter: @MHbherman

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    • News
      • Current News
      • Providers
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      • Technology
      • Safety & Quality
      • Digital Health
      • Transformation
        • Patients
        • Operations
        • Care Delivery
        • Payment
      • ESG
      • People
      • Regional News
        • Midwest
        • Northeast
        • South
        • West
      • Digital Edition (Web Version)
    • Opinion
      • Bold Moves
      • Breaking Bias
      • Commentaries
      • Letters
      • Vital Signs Blog
      • From the Editor
    • Events & Awards
      • Awards
        • Nominate/Eligibility
        • 100 Most Influential People
        • 50 Most Influential Clinical Executives
        • Best Places to Work in Healthcare
        • Excellence in Governance
        • Health Care Hall of Fame
        • Healthcare Marketing Impact Awards
        • Top 25 Emerging Leaders
        • Top Innovators
        • Diversity in Healthcare
          • - Luminaries
          • - Top 25 Diversity Leaders
          • - Leaders to Watch
        • Women in Healthcare
          • - Luminaries
          • - Top 25 Women Leaders
          • - Women to Watch
      • Conferences
        • Digital Health Transformation Summit
        • ESG: The Implementation Imperative Summit
        • Leadership Symposium
        • Social Determinants of Health Symposium
        • Women Leaders in Healthcare Conference
      • Galas
        • Best Places to Work Awards Gala
        • Health Care Hall of Fame Gala
        • Top 25 Diversity Leaders Gala
        • Top 25 Women Leaders Gala
      • Virtual Briefings
        • - Hospital of the Future
        • - Value Based Care
        • - Hospital at Home
        • - Workplace of the Future
        • - Digital Health
        • - Future of Staffing
        • - Hospital of the Future (Fall)
      • Webinars
    • Multimedia
      • Podcast - Beyond the Byline
      • Sponsored Podcast - Healthcare Insider
      • Video Series - The Check Up
      • Sponsored Video Series - One on One
    • Data Center
      • Data Center Home
      • Hospital Financials
      • Staffing & Compensation
      • Quality & Safety
      • Mergers & Acquisitions
      • Data Archive
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      • Surveys
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    • Newsletters
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