Novant Health reports 2015 drop in net income, increase in primary care visits

Novant Health’s net income for 2015 dropped 5 percent to $191.6 million on operating revenue of $4.1 billion. That compares with the system’s 2014 net income of $201.8 million on operating revenue of $3.8 billion.

The Winston-Salem-based hospital system, which serves about 4 million patients annually, reported 2015 operating income of $258.4 million, partially offset by investment losses of $60 million.

In a news release, the system attributed its increase in operating income, up from $167 million in 2014, to a higher number of physician encounters and improved patient access through expanded offerings, such as new primary-care, urgent-care and express clinics. The system also expanded clinic hours and increased e-visits and video visits for patients.

Novant Health said inpatient volumes were flat while primary care visits were up 9 percent from 2014. The system provided $706.3 million in community benefit in 2015, including $125.3 million in direct charity care. That was an increase from $639 million in 2014.

Novant Health operates 13 medical centers in four states, including four hospitals in Charlotte, Matthews and Huntersville.

This story was originally published March 30, 2016 at 5:05 PM with the headline "Novant Health reports 2015 drop in net income, increase in primary care visits."