November 3, 2004

DMC reports profits for 3Q

The Detroit Medical Center continued to show financial improvement from July-September, putting the health system on course to show one of its best financial results in years. Thanks to $2.4 million in positive earnings in the third quarter, the DMC reported net income of $2.6 million through Sept. 30, according to financial statements filed with the state. The positive earnings reversed a loss of $87.5 million for the same three quarters in 2003 and beat budgeted forecasts by $23.7 million. Duggan attributed the success to higher revenue resulting from increased patient volumes.

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