The health system said that the third quarter of fiscal year 2020 started off strong, but in March it incurred a one-month operating loss of $68 million. The system suspended elective procedures to prepare for the pandemic in the second half of March.
Through the first nine months of fiscal 2020, Geisinger saw its revenue reach $5.3 billion. This is nearly the same as the revenue Geisinger reached in the same period in fiscal 2019.
Geisinger also saw its expenses creep up through the third quarter, to $5.4 billion, up from the $5.2 billion recorded in the same period in fiscal 2019.
The health system saw a $416.6 million investment loss in the nine-month period. This compares to a $92.5 million investment gain in the same period in fiscal 2019.
Overall, Geisinger ended the nine-month period with a net loss of $549.2 million. This compares to a net income of $193.1 million in the same period one year prior.
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