Renown Health is the only locally owned , not-for-profit health network in Reno . We answer to no out-of-state owners or shareholders , but to our own board , partners and those for whom we provide care . Since all income earned here stays here , we can provide care where it ’ s needed most .
Earnings , however , are only a portion of our financial picture . Managing our income to debt ratio is equally important . As such , in 2016 , two independent credit rating agencies scored Renown ’ s financial strength . Standard & Poor ’ s Ratings Services revised its outlook on Renown from stable to positive and affirmed its “ A ” rating on revenue bonds provided by various issuers . And , twice last year , Moody ’ s revised its outlook of Renown . In January , we improved from stable to positive and in June we were upgraded from an A3 to an A2 rating . These ratings are critical because they provide access to capital at more favorable interest rates which is vital to us as we invest and grow to better meet the needs of our patients and the community .
4 %
Other Revenues
Operating Revenues and Expenses ($ in thousands )
5 %
Depreciation and Amortization
2 %
Interest Expense
31 %
Premium Revenues
65 %
Net Patient Service Revenues , Net of Bad Debts
18 %
Healthcare Expense
31 %
Supplies and Other Expenses
44 %
Salaries and Benefits
Revenues 2015 2016
Net Patient Service Revenues , Net of Bad Debts
$ 675,652 $ 752,684
Premium Revenues $ 329,691 $ 356,766 Other Revenues $ 42,239 $ 41,356
$ 1,047,582 $ 1,150,806
Expenses 2015 2016 Salaries and Benefits $ 401,216 $ 465,735
Supplies and Other Expenses
$ 304,180 $ 335,998
Healthcare Expenses $ 190,743 $ 192,382
Depreciation and Amortization
$ 46,262 $ 49,729
Interest Expense $ 26,263 $ 24,381 $ 968,664 $ 1,068,225
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