CHS reports $42M net loss in Q3

Franklin, Tenn.-based Community Health Systems reported a net loss of $42 million for the third quarter amid continued high labor costs, fewer inpatient admissions, unfavorable payer issues and a generally challenging environment. 

The loss compares with net income of $111 million in the same period ending Sept. 30, 2021.

The company also reported a net loss of $369 million for the nine months ending Sept. 30 compared with net income of $52 million for the same period in 2021.

CHS lost operating revenues and incurred incremental expenses of approximately $10 million as a direct result of Hurricane Ian, which affected some of its facilities in Florida when it made landfall in late September. That figure could be adjusted once insurance issues are considered, the company said.

In addition, CHS received $108 million in pandemic-related relief during the third quarter and $160 million in relief through the first nine months of the year.

CHS operates across 16 states with 81 acute care hospitals and more than 1,000 other clinical sites.

More details on the results can be found here.

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