Memorial Sloan-Kettering Cancer Center saw an 89.1% increase in its operating surplus in the first half of the year from improved payment rates and higher outpatient volume.
The New York-based specialty cancer hospital said its revenue increased 10.9% (PDF) to $1.6 billion. Even though admissions declined 2.4%, Sloan-Kettering booked higher revenue per day from better payment rates. Outpatient visits increased 3.4%.
With the state expanding its Medicaid program, Sloan-Kettering's share of Medicaid patients increased 0.8 percentage points to account for 2.5% of patient revenue, while revenue from self-pay patients declined 1.3 percentage points to 11.8%.