Five things to know.
1. HSHS reported total revenue of $2.8 billion for the year ended June 30, down from $2.9 billion posted over the same period last year.
2. Total expenses were $3.2 billion in 2024, up from $3 billion in 2023. Salary and wage expenses were $934 million in 2024, down from $955.4 million over the same period last year. Employee benefit expenses were $272.5 million, up from $243.8 million over the same period in 2023. Supply costs were $481.9 million, up from $476.3 million last year. Professional fees totaled $226.5 million for the year, up from $211.5 million last year.
3. HSHS closed Chippewa Falls, Wis.-based St. Joseph’s Hospital and Eau Claire, Wis.-based Sacred Heart Hospital in March as part of its exit from western Wisconsin. The two hospitals reported an operating loss of $216.4 million in 2024, of which $190.5 million were one-time costs associated with closing the hospitals. In 2023, the two hospitals reported an operating loss of $26.9 million.
4. The health system experienced a cybersecurity incident in August 2023. HSHS said it incurred $85 million in additional costs and revenue impairment due to the incident. The system claim was submitted, but fiscal year 2023 had no insurance offset recognized.
5. HSHS posted a net loss of $327.6 million in 2024, down from a net income of $193.4 million in 2023.
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