Dallas-based Baylor Scott & White saw its operating income fall more than 13 percent in the six months ending Dec. 31, largely driven by an increase in expenses, according to recently released financial results.
For the first half of fiscal year 2022, Baylor Scott & White recorded an operating income of $644 million, down from the $742 million recorded in the same period one year before. The health system's operating margin was 10.2 percent for the first half of fiscal 2022. In the same period in fiscal 2022 the operating margin was 12.8 percent.
For the six months ending Dec. 31, the 51-hospital system recorded revenue of $6.4 billion, including $5.2 billion in net patient care revenue. In the first half of fiscal 2021, the health system recorded revenue of $5.8 billion, including $4.6 billion in net patient care revenue.
The health system also saw its expenses rise in the first half of fiscal 2022 to $5.7 billion, up 12.6 percent from the same period in fiscal 2021. The health system attributed the expense jump to rising costs for employee wages and supplies.
After factoring in nonoperating gains of $88 million, Baylor Scott & White posted a net income of $721 million in the first six months of fiscal 2022. In the same period last year, the health system had a net income of $1.3 billion, including a nonoperating gain of $535 million.
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