St. Vincent Announces FY 2014 Financial Results

by Steve Brawner ([email protected]) 39 views 

CHI St. Vincent Health System generated more than $650 million in net patient revenue and $45.6 million in operating earnings during fiscal year 2014, which ended June 30.

Operating earnings are earnings before interest, depreciation, amortization and restructuring.

The financial performance represented “a significant turnaround” from the previous year, Peter Banko, president and CEO, said in a press release.

Banko said the system’s financial performance had been hurt during the previous fiscal year when it implemented “a comprehensive electronic medical record and business office transition.”

The system integrated the former St. Joseph’s Mercy Health Center, which has 1,800 employees, into its system in April.

It also operates facilities in Sherwood and Morrilton in addition to its flagship operation in Little Rock.