Cincinnati-based Bon Secours Mercy Health posted an operating income of $96.5 million (2.8% operating margin) in the first quarter of 2025, up from an operating income of $29.5 million (0.9% margin) during the same period last year, according to its May 23 financial report.
The system reported total operating revenue of $3.4 billion for the three months ended March 31, a 3% increase year over year. Net patient service revenue increased 2.7% year over year due to higher patient volumes and increased reimbursement from supplemental state Medicaid programs.
Total operating expenses were $3.3 billion in the first quarter of 2025, a 1% increase year over year. Employee compensation decreased 1.3% year over year due to reductions in agency labor, which resulted from successful efforts to transition contract labor roles to full-time employees. The reduction in contract labor helped drive an improvement in total employee compensation as a percentage of net patient service revenue from 54.5% in the first quarter of 2024 to 52.4% this year.
Bon Secours had 207 days cash on hand as of March 31, down from 218 on Dec. 31. The system had a long term debt of $4.9 billion as of March 31.
The 50-hospital system reported a net income of $167.9 million in the first quarter, up from $112.1 million during the same quarter last year.
