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.
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
