1. Charlotte, N.C.-based Advocate Health reported $10.4 million in operating income, representing a 0.1 percent operating margin, in its first quarter of reporting. The 67-hospital system, formed after Atrium Health merged with Advocate Aurora Health, posted $7.54 billion in revenue, with expenses hitting $7.53 billion in the first quarter.
2. Phoenix-based Banner Health, a 33-hospital system, transformed a $46 million operating loss in the same period last year into a $128 million gain in the quarter ending March 31. The operating profit was on revenue of $3.5 billion.
3. St. Louis-based BJC HealthCare, a 14-hospital system, reported $59.5 million in operating income for the quarter ending March 31 on improved revenue of $1.72 billion. Those figures compare with a net operating loss of $46.1 million on revenue of almost $1.49 billion in the same period in 2022.
4. Cleveland Clinic reported improved net operating income of $32.3 million for the three months ending March 31 on revenues of $3.5 billion. Those figures compared with a loss of $104.5 million on revenue of $3 billion in the same period in 2022. The 0.9 percent operating margin achieved compared with a -3.4 percent margin in the first quarter of 2022.
5. Boston-based Dana-Farber Cancer Institute has reported a $54.3 million operating income for the six months ending March 31. That figure was on par with the previous fiscal year’s operating income of $54.7 million for the same period.
6. Indianapolis-based Indiana University Health saw first-quarter revenue increase 8 percent year over year to $2.08 billion. First-quarter operating expenses rose 4 percent year over year to $2.04 billion. As a result, the 16-hospital system reported operating income of $45.1 million for the first quarter compared to a loss of $29.8 million for the same period in 2022.
7. Intermountain Health, a 33-hospital system based in Salt Lake City, reported operating income of $104 million for the first quarter of 2023 on heavily increased revenues of almost $4 billion. That figure compared with $130 million on revenues of $2.8 billion for the same period in 2022.
8. Oakland, Calif.-based Kaiser Permanente reported $233 million in operating income for the first quarter, up from a $72 million operating loss in the first quarter of 2022. For the three months ended March 31, Kaiser’s health plan, hospitals and their respective subsidiaries posted $25.2 billion in revenue and $25 billion in expenses, compared to $24.2 billion and $24.3 billion, respectively, for the same period last year.
9. Rochester, Minn.-based Mayo Clinics reported an operating gain of $149 million for the first quarter on revenue of $4.3 billion. That compares with a $142 million gain on $3.9 billion revenues in the first quarter of 2022.
10. New York City-based Montefiore Health System, which is expected to struggle with sustained operating challenges well into next year, reported a $31.8 million operating gain in the first quarter. The gain, on $1.9 billion of revenue, came even as overall expenses rose 7.9 percent over the first quarter of 2022. The operating gain compared with a loss of $8.4 million in the first quarter of 2022
11. Penn Medicine, based in Philadelphia, revealed operating income of $160.4 million in its reporting period ending March 31. Penn Medicine reported positive operating income in the past five years in the May 24 filing.
12. Sioux Falls, S.D.-based Sanford Health reported $33.7 million in operating income for the three months ending March 31. That figure compares with $13 million in the same period last year. The current operating income translates to a 1.9 percent operating margin compared with 0.7 percent in 2022.
13. Sacramento, Calif.-based Sutter Health reported $88 million in operating income for the first quarter of 2023 on revenues of $3.8 billion. Such figures compared with $95 million operating income on $3.6 billion of revenues in the same period last year. The first-quarter operating income builds on a 2022 operating income of $278 million.
14. Neenah, Wis.-based ThedaCare reported operating income of $3.6 million for the first quarter of 2023 on revenue of $306.4 million. That positive income compared with an operating loss in the same period of 2022 of $5 million on almost $282.9 million revenue.
15. Aurora, Colo.-based UCHealth revealed operating income of $61.8 million in the first quarter of 2023 on revenue of $1.7 billion. Such figures built on previous months’ gains, with the 14-hospital system reporting operating income of almost $200 million on revenue of over $5 billion for the fiscal year to March 31.
16. The 40-hospital strong Pittsburgh-based UPMC saw its operating income hit $100.4 million in the first quarter — up from $50.4 million in the prior-year period — due to increased patient volumes, the growth of its insurance division and equity earnings in its investment in CarepathRx. First-quarter revenue increased 12 percent year over year to $6.9 billion, and expenses rose 11 percent to $6.8 billion.
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