Five nonprofit systems that drove operating margins back into the black in the second quarter:
1. Cleveland Clinic saw an operating income of $45.3 million (1.2% margin) in the second quarter, compared to a $21.4 million operating loss (-0.6% margin) during the second quarter of 2023. Total revenue for the system was $3.9 billion in the second quarter, up from $3.6 billion during the same period last year. Net income was $187.8 million, up from $145.2 million during the second quarter of 2023.
2. West Des Moines, Iowa-based UnityPoint Health reported $33.9 million in operating income (2.6% margin) in the second quarter, reversing a $4.2 million operating loss (-0.4% margin) in the same period last year. Second-quarter revenue increased 12.9% year over year. Net income for the second quarter was $61.4 million, compared to $1.4 million in the same period last year.
3. Cincinnati-based Bon Secours Mercy Health reported $30.1 million in operating income (0.9% margin), a more than $123 million improvement on the $92.9 million operating loss (-3.1% margin) posted in the second quarter of 2023. Second-quarter revenue increased 8.7% year over year to $3.25 billion. Bon Secours Mercy reported a net income of $143.1 million for the second quarter, compared to a $25.2 million net loss for the same period in 2023.
4. San Diego-based Scripps Health posted an operating income of $75.8 million (6.2% margin) in the third quarter, up from an operating loss of $33.9 million (-3.2% margin) in the same period last year. Total operating revenues were $1.2 billion for the three months ended June 30, up from $1.1 billion posted over the same period last year. Scripps posted a net income of $134.4 million in the third quarter up from $90.9 million in the same quarter last year.
5. Chillicothe, Ohio-based Adena Health System reported $3.3 million in operating income (1.8% margin) in the second quarter, reversing a $2.9 million loss (-1.6% margin) from the same period in 2023. Second-quarter revenue increased 0.4% year over year. Net income for the quarter was $4.5 million, compared to a net loss of $5.6 million in the second quarter of 2023.
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