Beaumont net income rises 60 percent in 2019
(WorldNews Health)

Southfield-based Beaumont Health saw its net income rise 60 percent in 2019 to $390.2 million, up from $243.2 million the previous year. Operating revenue rose nearly 1 percent last year to $4.7 billion from $4.66 billion in 2018. One reason Beaumont`s net income rose so sharply in 2019 is because it incurred in 2018 more than $200 million in losses due to poor investment performance, medical malpractice claims and a $72 million settlement with the U.S. Department of Justice over its cardiology program. It also recorded significant gains on the sale of some operations in 2019. `Last year, our total operating expenses rose (a half percent), or $21.4 million, compared to 2018,` said John...