Columbia-based University of Missouri Health Care revenues hit $1 billion for the first time in fiscal year 2018 and it expects revenues to climb to $1.06 billion in 2019 and $1.8 billion in 2020, reports The Mexico Ledger.
Three insights:
1. The nonprofit health system aims to add 25 beds at the Missouri Orthopedic Institute, generating further revenue channels and seeking to invest in academic, clinical and research programs.
2. Although revenues and operating margins are staying true to expectations, net income is predicted to fall by approximately $20 million in the year that ends June 30.
3. MU Health also achieved a profit margin of 8 percent in fiscal year 2019, beating its budgeted margin of 7.5 percent.