The healthy revenue growth suggests the county’s hospitals have recovered from the pandemic, the report said.
The growth comes after the hospitals saw a 7.9% revenue increase in 2022 and a 9.6% increase in 2021. Compared to a $3.5 million loss in 2022, the hospitals saw a combined rebound of $597 million in profit in 2023, the publication reported.
Below are some other findings from the report:
– The largest percentage growth came from Orange-based Children’s Hospital Orange County with a 33% increase to $1.2 billion. Its sister hospital, Children’s Hospital Orange County at Mission Hospital in Mission Viejo, reported a 19% increase, or $108 million.
– Irvine-based UCI Health reportedly saw a 14% jump, or $1.85 billion, due to growth through expanding bed numbers and opening new facilities.
– Newport Beach-based Hoag Memorial Hospital Presbyterian reported growth of 10%, or $1.5 billion.
– The combined revenue of three Providence hospitals in Orange County — Orange-based St. Joseph Hospital; Fullerton-based St. Jude Medical Center; and Mission Viejo-based Mission Hospital — was $2.5 billion.
– MemorialCare Orange Coast Medical Center in Fountain Valley reported a revenue increase of 15%, or $449 million. Its sister hospital Saddleback Medical Center in Laguna Hills increased 1.3%, or $429 million.
