Revenue for the quarter increased 15.6% year over year to $2.26 billion while expenses grew by 23.3% to $2.39 billion, according to financial documents published Dec. 13.
Net loss for the three-month period, the fourth quarter of fiscal year 2024, was $33.2 million, down from a $239.2 million net income in the same quarter in 2023.
For the fiscal year ending Sept 30, Beth Israel Lahey reported a $248.9 million operating loss (-2.8% margin), down from a $131.2 million operating loss (-1.7% margin) in FY 2023.
As of Sept. 30, long-term debt for the health system was $1.98 billion.
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.