The health system posted total revenues of $3.7 billion in the quarter ended March 31, a 5.6% increase year over year.
Expenses hit $3.6 billion in the first quarter, up 7% year over year. Salaries, benefits and contract labor costs grew 4.8% to $1.6 billion. Supply costs rose 11.5% to $610.2 million.
After factoring in nonoperating items, such as investment income, Banner posted a net income of $358 million in the quarter, up from $292.3 million over the same period last year.
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