Ascension had a strong and impactful fiscal year 2017 for our organization and for our patients, driven by the organization’s focus on providing compassionate, personalized care for all persons where, how and when they need it.
For the year ending June 30, 2017, Ascension saw an increase in net patient service revenue of 3.9 percent compared to the prior year and outpatient volumes increased 3.5 percent compared to the prior year, primarily due to the addition of Wheaton Franciscan Healthcare – Southeast Wisconsin facilities. Net income margin was 8.2 percent for the year ended June 30, 2017, as compared to 2.2 percent for the year ended June 30, 2016. The increase in net income margin is due in part to favorable investment returns.
Delivering on our Mission, Ascension provided more than $1.8 billion in care for those most vulnerable. The organization increased its care of persons who are living in poverty and other community benefits, including traditional charity care, by $155 million or 10.7 percent compared to the same period in the prior year.
Focused on the strategic growth of the organization, Ascension has made targeted and purposeful investments in communities to support a unified Ascension brand, online consumer engagement, ambulatory access, increased geographic presence, and facility improvements to enhance patient experience. In some cases, Ascension has also divested specific assets in order to better sustain and ensure the long-term health of individuals in those communities.
For the full Management’s Discussion and Analysis, click here.