Despite facing headwinds such as increased labor and supply costs, several health systems reported positive operating performance in 2025 after recording operating losses in 2024.
Here are four health systems that returned to positive operating margins for the 12 months ended Dec. 31:
1. Pittsburgh-based Allegheny Health Network reported an operating income of $90.2 million in 2025, up from an operating loss of $147 million (-2.9% margin) in 2024.
2. St. Louis-based SSM Health reported an operating income of $148.5 million (1.2% operating margin) in 2025, up from an operating loss of $70 million (-0.6% margin) in 2024.
3. Cleveland-based University Hospitals reported an operating income of $191.8 million (2.6% operating margin) in 2025, up from an operating loss of $172.6 million (-2.7% margin) in 2024.
4. Pittsburgh-based UPMC reported an operating income of $286 million (0.9% operating margin) in 2025, an improvement from an operating loss of $339 million (-1.1% margin) in 2024.
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