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Carilion Clinic's financial bottom line improves

The Roanoke Times, March 22, 2012

Carilion Clinic has seen its revenues increase and operating loss improve, even as the health system's net assets have continued on a steep and steady decline. The Roanoke-based nonprofit healthcare provider recorded an operating loss of $6.2 million on total revenues of $1.3 billion for the year that ended Sept. 30, according to its latest audited financial report. That's a stark improvement over the previous year, when Carilion posted an operating loss of $45.9 million on revenues of $1.2 billion, and it beat Carilion's internal projections, which budgeted for an $18.5 million operating loss, said Carilion Chief Financial Officer Don Lorton.