Catholic Healthcare West Reports Increase in Profits for Fiscal Year 2004
Not-for-profit hospital chain Catholic Healthcare West has reported an operating income of $147 million for the fiscal year ending June 30, up from $79 million a year earlier, the Sacramento Bee reports. This is the fourth consecutive year CHW has seen a "steady improvement in [its] bottom line," according to the Bee. In addition, CHW reported a net income of $246 million for FY 2004, almost three times as much as the reported $66 million for FY 2003. The increase was partly because of investment income of $99 million in FY 2004, compared with investment losses totaling $13 million in 2003 (Rapaport, Sacramento Bee, 10/18).This is part of the California Healthline Daily Edition, a summary of health policy coverage from major news organizations. Sign up for an email subscription.