7 health systems report $1B+ losses in Q1

Health systems across the U.S. saw revenue decline, expenses rise and investment gains dwindle in the first quarter of this year due to the COVID-19 pandemic. 

For the three months ended March 31, some of the biggest nonprofit health systems in the U.S. reported losses. Below are seven health systems that reported net losses of $1 billion or more. 

Ascension (St. Louis) 
Revenue: $6.1 billion 
Operating loss: $429.4 million 
Net loss: $2.7 billion 

CommonSpirit Health (Chicago) 
Revenue: $7.8 billion
Operating loss: $145 million 
Net loss: $1.4 billion 

Kaiser Permanente (Oakland, Calif.) 
Revenue: $22.6 billion 
Operating income: $1.3 billion 
Net loss: $1.1 billion 

Providence (Renton, Wash.) 
Revenue: $6.3 billion 
Operating loss: $276 million 
Net loss: $1.1 billion 

Sutter Health (Sacramento, Calif.) 
Revenue: $3.2 billion 
Operating loss: $236 million 
Net loss: $1.1 billion 

Advocate Aurora Health (Downers Grove, Ill., and Milwaukee) 
Revenue: $3.1 billion 
Operating loss: $85.6 million 
Net loss: $1.3 billion 

Intermountain Healthcare (Salt Lake City) 
Revenue: $2.3 billion 
Operating income: $115 million 
Net loss: $1 billion 

More articles on healthcare finance:
Financial fallout from COVID-19: 10 hospitals laying off workers
Illinois health system furloughs 460 workers
10 latest hospital credit rating downgrades

 

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