Annual revenue grows 12% at Boca Raton Regional Hospital, income declines
Boca Raton Regional Hospital saw its revenue soar 11.5 percent in fiscal 2016 but its earnings fell, according to a report to its bondholders.
The nonprofit hospital had net income of $3.9 million on revenue of $462.3 million for the fiscal year ended June 30. In the previous fiscal year, it posted net income of $12.2 million on revenue of $414.5 million. BRRH said that market-driven declines in its investment portfolio reduced its net income in the most recent year, plus it paid higher pension...