Banner Health posts $163M operating income in first half of 2023

Phoenix-based Banner Health posted a $162.7 million operating income in the first six months of 2023, according to its Aug. 31 earnings report.

Advertisement

The 30-hospital system reported an $87.2 million operating loss during the same period last year. 

Total revenues at Banner were $6.9 billion in the six months ending June, compared to $6.2 billion year over year. Total expenses were nearly $6.8 billion, up 7.1 percent year over year, with a 4.7 increase in labor costs and a 12.4 percent increase in supply costs.

 

At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.

Advertisement

Next Up in Financial Management

Advertisement

Comments are closed.