BayCare ends Q1 with $656M net loss

BayCare, a 15-hospital system based in Clearwater, Fla., saw revenue remain flat year over year in the first quarter of 2020 and ended the period with a net loss. 

BayCare's operating revenue climbed less than 1 percent year over year to $1.08 billion in the first quarter, which ended March 31, according to recently released financial documents

Higher expenses offset the health system's revenue gains. BayCare reported expenses of $1.03 billion in the first quarter of this year, up 4.3 percent from $992 million in the same period a year earlier. 

Operating income totaled nearly $50 million in the first quarter of this year, a 45 percent decline from a year earlier. 

BayCare ended the first quarter of this year with a net loss of $656.4 million, which was driven by a more than $706 million loss on nonoperating items. A year earlier, the health system reported operating income of $399.4 million, which included nonoperating income of $308 million. 

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