Carilion Clinic maintained a healthy profit margin in fiscal year 2015 despite taking substantial hits to its investment and pension funds.
Carilion released financial statements showing earnings of $61 million from $1.5 billion in revenue, giving it a 4 percent profit margin. It also reported $134 million in investment losses.
Had the financial markets performed better, the margin would have been 16 percent, said Don Halliwill, Carilion’s chief financial officer.
The downturn in both investments and the pension fund were a reflection of last year’s volatile financial market, which was at a low when Carilion’s fiscal year closed on Sept. 30. Favorable market changes this year have allowed Carilion to recapture some value, he said.
