Yale New Haven (Conn.) Health reported a $197 million operating loss (-2.6% margin) for the fiscal year ended Sept. 30, 2025, down from a $46 million operating gain (0.6% margin) in the same period the prior year, according to its most recent financial report.
The five-hospital system, which remains without a permanent CFO following executive departures announced in October, recorded $7.6 billion in total operating revenue for fiscal 2025, up from $7.2 billion the prior year. Operating expenses rose to $7.4 billion, driven by increases in salaries and benefits and supplies and other costs.
Yale New Haven Health paid $57.7 million in restructuring expenses in fiscal 2025, primarily related to severance payments and vendor contract terminations, according to financial documents. In March, the system restructured its leadership to consolidate roles, streamline decision-making and drive growth The move affected about 38 management and administrative positions, though the system said most affected individuals were offered roles within the new structure.
After accounting for nonoperating items, such as investment returns, Yale New Haven Health reported a net income of $91 million in fiscal 2025, down from $411 million in fiscal 2024.
The financial results come as the system undergoes leadership changes. On Oct. 31, a spokesperson confirmed to Becker’s that Executive Vice President and General Counsel Bill Aseltyne and Executive Vice President and CFO Gail Kosyla had departed the organization.
CEO Christopher O’Connor picked up the CFO role on an interim basis while Yale New Haven Health searches for a permanent replacement, according to an Oct. 30 social media post by ConnecticutEast.
Two executives at Greenwich (Conn.) Hospital — COO Marc Kosak and CFO Bill Degnan — also exited the organization as part of what the system described as a new executive leadership structure aligned with other Yale New Haven Health hospitals.
Yale New Haven Health said it plans to identify new leaders for the CFO and general counsel roles.
