Cleveland Clinic’s operating surplus increases to $123.9M in Q3

Cleveland Clinic posted an operating surplus of $123.9 million for the third quarter of 2014, up from the $57 million operating surplus it posted for the third quarter of last year.

The 11-hospital system’s revenue grew in the third quarter of this year to $1.7 billion, up from $1.6 billion in the third quarter of 2013. A greater percentage of Cleveland Clinic’s revenue came from Medicaid patients in the third quarter of this year, with this source of revenue increasing 3.4 percent.

Some of Cleveland Clinic’s expenses increased in the third quarter of this year. For instance, the system’s expense related to insurance grew from $15.8 million in the third quarter of 2013 to $19.4 million in the third quarter of this year.

Including Cleveland Clinic’s nonoperating gains and losses, the system reported a $134.5 net surplus for the third quarter of 2014, which was down from the $206.5 net surplus the system posted for the third quarter of last year.

Ayla Ellison-December 1, 2014-Becker’s Hospital CFO