Here’s how the three systems’ finances compare, according to their most recent financial documents.
1. Chicago-based CommonSpirit Health reported $451 million in operating losses for the six-month period ending Dec. 31, down from $47 million for the same period in the prior year.
Total operating revenue for the period decreased 0.7 percent year over year to $17.3 billion while operating expenses increased 1.6 percent to $17.8 billion. CommonSpirit’s operating margin for the second half of 2022 was -2.6 percent, down from -0.3 percent for the same period in 2021.
After factoring in nonoperating items, including a $238 million return on investments, CommonSpirit, recorded a net loss of $221 million for the second half of 2022.
2. St. Louis-based Ascension recorded a $410 million operating loss in the second half of 2022, compared with an operating income of $31 million during the same period last year.
Total operating revenue increased 0.8 percent year over year to $14.3 billion while total operating expenses increased 3.7 percent to $14.7 billion. Ascension’s operating margin fell to -2.9 percent in the six months ending Dec. 31, down from 0.2 percent for the same period in 2021.
After factoring in nonoperating losses, including a loss of $798.6 million from investments, Ascension posted a net loss of $1.2 billion for the six months ending Dec. 31, 2022.
3. Livonia, Mich.-based Trinity Health reported a $298 million operating loss for the six months ending Dec. 31, down from a $296 million operating gain in the same period in 2021.
Total operating revenue for the six-month period increased 2.3 percent year over year to $10.5 billion. Total expenses increased 6.7 percent year over year to $10.7 billion. Contract labor jumped 52 percent to total $405 million as Trinity absorbed acquisitions, notably the buying out of CommonSpirit in the MercyOne venture. Trinity’s operating margin for the six months ending Dec. 31 was -2.6 percent, down from a positive margin of 1.6 percent for the same period the prior year.
After factoring in nonoperating items, including a $134 million return from investments, Trinity posted a net loss of $70 million for the six months ending Dec. 31.
