Boston Children's Hospital suffered a steep loss in 2022 driven overwhelmingly by declines in investment values, reporting a net loss of $520 million.
While operating losses were relatively modest at $30.3 million for the year ended Sept. 30, significant declines in the value of unrealized investments drove the overall loss figure down. The approximately $520 million loss compares with a $1.1 billion net gain for the hospital in 2021.
Kevin Churchwell, MD, president and CEO of the hospital, told Becker's in late December that 2022 was an unpredictable year and said it was teamwork that was able to see the hospital cope as well as it did.