Skip Navigation
About Us > News & Media > News Releases

Wake Forest Baptist Fiscal Year 2017 Fourth Quarter Performance

STATEMENT

By: Bradley A. Clark, M.B.A., Interim Chief Financial Officer; Vice President of Treasury,

Wake Forest Baptist Medical Center

Re: FY17 Q4 Financial Performance

Aug. 29, 2017

Wake Forest Baptist Medical Center released its fourth quarter report on operating performance and operating statistics for fiscal year 2017 (FY17) today and -stated improvements in key areas primarily driven by volume growth in the clinical enterprise in part from the expansion of ambulatory facilities and the opening of the 50-bed inpatient facility at Davie Medical Center. Improving patient access and enhancing provider throughput continue to be an ongoing focus.

Unrestricted net assets increased $180.6 million for the twelve-month period (July 1, 2016 – June 30, 2017). This gain is comprised of operating income of $77.7 million (2.9% operating margin) and net non-operating gains of $102.9 million.

Total net revenues of $2.7 billion were 12.2% higher than the prior year.

Overall clinical volume saw 3.8% year-over-year growth in case mix adjusted equivalent discharges (CMAEDs). Overall clinic visits increased 38.9% compared to the prior year.

Inpatient utilization or system inpatient case mix adjusted discharges were flat when compared to prior year due to a slight decline in discharges (1.7%) offset by an increase in case mix index (1.8%). Both year-over-year changes were driven by the continued migration of lower acuity patients being treated in an observation setting. Observation volumes increased 12.6% to 12,223 compared to 10,858 the prior year.

Surgical volumes increased across the health system with operating room cases up by 4.5% over prior year, growth in inpatient cases of 4.3% and growth in the outpatient setting of 4.6%.

Outpatient volumes overall continued to show strong growth with a 10.7% increase over the prior year. This growth is attributable to the migration of treating patients in an observation setting, improvements in ambulatory and diagnostics access, and the Cornerstone acquisition.

Wake Forest Baptist Medical Center has been recognized in U.S. News & World Report’s “Best Hospitals” rankings for the 25th consecutive year with six specialties listed among the nation’s finest. The specialties earning top-50 spots in the 2017-2018 report were Cancer (No. 27), Nephrology (No. 27), Geriatrics (No. 33), Gynecology (No. 33), Ear, Nose, and Throat (No. 34), and Neurology and Neurosurgery (No. 37).

Additionally, four specialties – Diabetes & Endocrinology, Orthopedics, Pulmonology and Urology – were listed as “High Performing” by U.S. News. Overall, Wake Forest Baptist ranked No. 2 in the state.

Media Relations Contacts:

Quick Reference

News Media Resources

Media Inquiries
336-716-4587
Patient Information
336-713-0000
Satellite Interviews
336-716-4434

Ways to Give
Last Updated: 08-29-2017
Six Wake Forest Baptist Specialties Earn U.S. News RankingsComprehensive Cancer Centers National Designation is Renewed2017-2018 Best DoctorsMagnet Hospital RecognitionJoint Commission Report

Disclaimer: The information on this website is for general informational purposes only and SHOULD NOT be relied upon as a substitute for sound professional medical advice, evaluation or care from your physician or other qualified health care provider.

© Wake Forest Baptist Medical Center, Medical Center Boulevard, Winston-Salem, NC 27157. All Rights Reserved.