Levine: Still room for growth as Ballad's margins show improvement
Nov 13, 2019 at 1:30 PM
Although recent numbers indicate Ballad Health’s revenues are continuing to maintain an overall lead on expenditures, Executive Chairman, President and CEO Alan Levine believes the system’s operating margin still has room for growth.
“Our performance has definitely improved, and we’re very grateful for that, but there’s still work to be done to get us to a level that’s similar to other stable health systems,” he said.
In a press release issued Monday, the system highlighted a list of accomplishments in the first quarter of its 2020 fiscal year, including $27 million of investments in capital projects, the recertification of the Johnson City Medical Center as a comprehensive stroke center and savings accomplished through its accountable care organization, AnewCare Collaborative. Ballad Health’s fiscal years run from July 1 to June 30.
The system also pointed out that its operating margin has improved to 0.8% in the first quarter of the 2020 fiscal year compared to a slight loss of 0.04% in the first quarter of the 2019 fiscal year. Revenues for the most recent quarter increased by 4.5% and expenses increased 3.7%.
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