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.”
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