By Gina Morton
DANVILLE — DANVILLE — Geisinger Health System increased net revenue 8.1 percent during the first quarter of the fiscal year, officials said, as compared to 2009.
Net revenue was $555.2 million over the fiscal year first quarter, Kevin Brennan, executive vice president for finance and chief financial officer, informed the Geisinger Authority board Wednesday at its monthly meeting.
The hospital system completed the first quarter of the fiscal year 2010 — consisting of July, August and September — with Patient Services and Supporting Operations Net of $16.1 million, representing a 2.9 percent return from core operations.
The positive performances makes it possible for the health system to work toward creating healthier communities, addressing the region’s most critical health care issues and enhancing patients’ and members’ wellbeing.
The hospital reinvested $42.8 million into facilities, equipment and fixed assets.
Through the reinvestment, numerous accolades for providing high-quality care and value to patients were made possible, including:
n 52 Geisinger physicians were named to the national Best Doctors list;
n GMC nursing care was cited among the best in the country;
n GHP and GHP Gold again were ranked No. 1 in Pennsylvania and among the top 10 in the nation; and
n GMC earned recognition as among the 100 Top Hospitals for Cardiovascular Care.
In August, Geisinger and Community Medical Center Healthcare System (CMC) in Scranton signed a nonbinding letter of intent to explore ways to work together to benefit health care in the northeast region.
No timetable has been set regarding programs or other areas where Geisinger and CMC could work together, but discussions are underway, and Geisinger will update on these discussions when there is something concrete to report.
