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.
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.