Johns Hopkins All Children’s strengthens financials
May 17, 2021 - Johns Hopkins All Children's Hospital reported $23.3 million in net income from operations for the three months ended March 31, compared to a $14.2 million loss in the same period a year ago. The turnaround at the 259-bed St. Petersburg pediatric hospital was due in part to an increase in federal CARES Act funding and increased net patient revenues due to a higher collection rate, according to a report from parent organization Johns Hopkins Health System.. The report also cited lower personnel costs due to a reduction in full-time equivalent workers and lower medical supply costs due to decreased volumes. Operating revenue for the three months ended March 31, the third quarter of the fiscal year, was $141.9 million, compared to $122.6 million a year ago.