Boca Raton Regional Hospital Revenue up by Nearly 12 Percent
Due to an increase in patients, Boca Raton Regional Hospital earned an 11.9 percent growth in revenue as its monetary second quarter came to a close on Dec. 31.
According to a report to its bondholders, the hospital grossed $5.2 million on revenue of $100.3 million, an improvement from the same period last year’s earnings of $3.1 million on revenue of $89.7 million.
The revenue surge was largely the result of the hospital’s rise in patient admissions during its second quarter. Patient admissions increased by 10.3 percent to 4,438 and outpatient visits grew by 1.5 percent to 88,664.
The added internal medical residency program is also considered to be a factor in the hospital’s increased revenue percentage.
To meet the growing patient demand, more staff was hired and the hospital's expenses for salary and wages grew 15.5 percent to $6 million.
The non-profit hospital also has several major projects in the works.
By this summer, BRRH expects to complete the expansion of its Christine E. Lynn Women's Health and Wellness Institute. The expansion will feature a SenoClaire 3-D breast digital imaging machine.
The hospital’s Gloria Drummond Physical Rehabilitation Institute is also currently undergoing some extensive renovations that should be completed by spring 2016.