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St. Francis parent's operating income up 62% in first half of fiscal '18

BY John Stearns

2/28/2018
Livonia, Mich.-based Trinity Health Corp., parent of 93 hospitals in the U.S., including St. Francis Hospital and Medical Center in Hartford, reported a $68 million increase in operating income in the first half of fiscal 2018.

Its income reached $177.9 million in the first half of fiscal 2018 ended Dec. 31, up from $109.9 million in the prior-year period.

Its fiscal 2018 operating margin of 2 percent and operating cash flow margin of 7.9 percent rose from 1.3 percent and 7.4 percent, respectively, from a year ago. Revenue growth, cost controls, length of stay and productivity improvements, as well as improved performance in Trinity Health's owned managed care plans helped increase margins, Trinity said.

Revenue increased $314 million to $9 billion, a 3.6 percent increase over the prior year. The increase is the result of growth in patient volumes, payment rates and case mix, as well as health plan premium revenue, Trinity said.

Trinity's Connecticut and Massachusetts holdings include Trinity Health Of New England, comprising Johnson Memorial Hospital in Stafford Springs, Mount Sinai Rehabilitation Hospital in Hartford, St. Francis in Hartford, St. Mary's Health System in Waterbury and Sisters of Providence Health System in Springfield. Trinity also owns the The Mercy Community in West Hartford.