Revenue for the health system increased 9.4% year over year to $3.1 billion while expenses rose 8% to $3 billion.
Labor costs increased 6.4% to $1.4 billion and supply costs grew by 9.9% to $1.4 billion.
After accounting for nonoperating items, such as investment returns, HonorHealth posted a net profit of $150.7 million in 2023, compared to a net loss of $130.5 million in 2022.
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