Nine-month fiscal year revenue rose 2% at Maimonides Medical Center in New York, but the not-for-profit saw an increased operating deficit for the period.
The Brooklyn-based facility reported an $898,455 operating deficit on $788.3 million in revenue for the nine months that ended Sept. 30, compared to a $595,339 operational deficit on $772.4 million in revenue during the same nine-month period a year ago. Maimonides' operating margin was 0.1%, up from 0.07% during the same time in 2013.
Thanks to $944,321 in unrealized gains on investments and $1.2 million in grants, the hospital reported an overall surplus of $1.2 million for the most recent nine-month period. That compares with a $1.1 million total deficit the prior year, mostly due to $4.4 million in unrealized losses on investments.
Pediatric and neonatal cases drove the hospital's inpatient activity growth as discharges increased 20.8%. Total discharges, including nursery and psychiatry, were up 2.2%, while total surgeries were up 14.9%. Total inpatient days, including nursery and psychiatry, were up 10.7%.
The results are an improvement over the first six months of the year, when the system reported 3.7% fewer discharges as compared to same period the year before and a $3.1 million deficit.
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