The health system, New Hampshire’s largest private employer, posted a $22.1 million loss for the fiscal year that ended June 30. Dartmouth Health has pointed to rising labor costs and reliance on travel nurses as reasons for the loss of revenue.
The health system’s financials likely would have been worse if not for the $98.8 million the system received in stimulus funds.
“Taken together, the increased staffing costs for permanent internal nurses and traveling nurses continue to have a major impact on Dartmouth Health’s financial performance,” Dartmouth CFO Dan Jantzen wrote in a filing with bondholders. “A tight labor market has also heightened the pressure on wages across the organization.”
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.
