Cleveland Clinic reports operating income up $136.8M in Q1

Cleveland Clinic reported improved net operating income of $32.3 million for the three months ending March 31 on revenues of $3.5 billion.

Those figures compared with a loss of $104.5 million on revenue of $3 billion in the same period in 2022. The 0.9 percent operating margin achieved compared with a -3.4 percent margin in the first quarter of 2022.

The operating numbers take into account interest and depreciation and amortization costs. On a straight comparison, expenses, which rose 7.2 percent on last year, were $236.7 million below revenues.

Overall income at the 20-hospital system totaled $335.5 million compared with a loss of $282.5 million in the first quarter of 2022.

Days of cash on hand totaled 321, and current and long-term debt totaled $5 billion as of March 31.

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Featured Whitepapers

Featured Webinars