By: Bradley A. Clark, M.B.A., Executive Vice President and Chief Financial Officer, Wake Forest Baptist Medical Center
Re: FY19 Q1 Financial Performance
Wake Forest Baptist Medical Center released its first quarter report on operating performance and operating statistics for fiscal year 2019 (FY19) today highlighting volume growth in the clinical enterprise and the addition of High Point Medical Center.
For the three-month period (July 1, 2018 – Sept. 30, 2018), total net revenues of $772.8 million were 12.5% higher than the prior year driven by volume growth and the addition of High Point Medical Center.
In addition, unrestricted net assets increased $33.7 million for the three-month period. This gain is comprised of operating income of $2.4 million (0.3% operating margin) and net non-operating gains of $31.3 million.
The balance of the report with accompanying financial statements can be found at the Municipal Securities Rulemaking Board.