The Ann and Robert H. Lurie Children's Hospital in Chicago saw a small bump in its operating surplus in 2015 as the hospital saw fewer inpatient admissions.
The not-for-profit hospital reported a 0.7% rise in operating surplus for the fiscal-year ended Aug. 31. Lurie attributed the growth to a rise in outpatient activity, surgical procedures and emergency department visits. But inpatient admissions shrunk 6.9% because of a change in the way observation and inpatient cases in shorter-stay epilepsy, respiratory and surgical were categorized, according to the hospital.
Expansion in the northern suburbs of Chicago led to a 5.7% bump in total ambulatory visits.
Like other not-for-profit hospitals, Lurie's investment returns took a hit, losing $15.7 million in 2015 after gaining $90.8 million the prior year.
Salaries, wages and employee benefits jumped 5% last year, while total operating expenses rose 3.9%.
Lurie saw $37.9 million in operating surplus on $854.9 million in total operating revenue last year, compared with $37.6 million in surplus on $825.8 million in revenue for the prior year. It reported a 4.4% operating margin for 2015, down from 4.6% in 2014.