4 nonprofit systems reporting Q1 results

Another financial results season is in full swing as hospitals and health systems report their financials as of March 31. Below is a roundup of nonprofit health systems and their recently published results, some of which have not previously been reported on.

Advertisement

 

  1. Hartford (Conn.) HealthCare reported an operating gain of $2.6 million on revenue of $2.9 billion for the six months ending March 31. Overall net income totaled $67.2 million.
  2. Bristol (Conn.) Health reported an operating loss of $112,141 on revenue of $94.3 million for the reporting period ending March 31. That compared with a $2.6 million loss for the same period in 2022 on revenue of $90.8 million. Overall, the health system reported net income of $3.5 million compared with a net loss of $1.6 million in 2022.
  3. Pueblo, Colo.-based Parkview Health System reported a $17.5 million operating loss in the first quarter of 2023, according to an unaudited balance sheet. The health system also posted a $10.9 million net loss after accounting for investment returns. Total operating revenue was $395.4 million.
  4. Baltimore-based University of Maryland Medical System reported overall net income of $74.8 million for the nine months ending March 31 but posted a net operating loss. The 12-hospital system saw expenses rise 5.5 percent, and while revenues also rose compared to the previous year, the total operating loss for the period was $8.9 million compared to operating income of $35.5 million in 2022, representing a $44.4 million swing.

Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit

Advertisement

Next Up in Financial Management

Advertisement

Comments are closed.