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.


  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.

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