Large health systems reported mixed financial results in the first quarter of 2026, with organizations including Cleveland Clinic and NewYork-Presbyterian posting stronger operating margins while others, such as Kaiser Permanente and Intermountain Health, reported margin declines.
Here is a snapshot of how 12 large health systems performed financially during the three months ended March 31.
Editor’s note: This is not an exhaustive list.
BayCare Health System (Clearwater, Fla.)
Operating revenue: $1.8 billion, up from $1.7 billion during the same period last year
Operating expenses: $1.5 billion, up from $1.4 billion
Operating income: $187.2 million, up from $178.7 million
Operating margin: 10.6%, down from 10.8%
BJC Health (St. Louis)
Operating revenue: $3.1 billion, up from $2.8 billion
Operating expenses: $3.1 billion, up from $2.7 billion
Operating income: $65 million, down from $99.6 million
Operating margin: 2.1%, down from 3.5%
Cleveland Clinic
Operating revenue: $4.7 billion, up from $4.2 billion
Operating expenses: $4.3 billion, up from $4 billion
Operating income: $172.8 million, up from $52.8 million
Operating margin: 3.7%, up from 1.3%
Intermountain Health (Salt Lake City)
Operating revenue: $4.8 billion, up from $4.6 billion
Operating expenses: $4.3 billion, up from $4.1 billion
Operating income: $227 million, down from $297 million
Operating margin: 4.8%, down from 6.5%
Kaiser Permanente (Oakland, Calif.)
Operating revenue: $34.6 billion, up from $31.8 billion
Operating expenses: $33.9 billion, up from $30.9 billion
Operating income: $711 million, down from $932 million
Operating margin: 2.1%, down from 2.9%
Mass General Brigham (Somerville, Mass.)
Operating revenue: $6 billion, up from $5.6 billion
Operating expenses: $5.9 billion, up from $5.6 billion
Operating income: $20.2 million, up from an operating loss of $64.7 million
Operating margin: 0.3%, up from -1.2%
Mayo Clinic (Rochester, Minn.)
Operating revenue: $5.5 billion, up from $5.1 billion
Operating expenses: $5.1 billion, up from $4.7 billion
Operating income: $398 million, up from $359 million
Operating margin: 7.2%, up from 7.1%
Moffitt Cancer Center (Tampa, Fla.)
Operating revenue: $868.4 million, up from $770.2 million
Operating expenses: $804.7 million, up from $730 million
Operating income: $63.7 million, up from $40.2 million
Operating margin: 7.3%, up from 5.2%
NewYork-Presbyterian (New York City)
Operating revenue: $3 billion, up from $2.7 billion
Operating expenses: $2.7 billion, up from $2.6 billion
Operating income: $283 million, up from $97 million
Operating margin: 9.6%, up from 3.6%
Parkview Health (Fort Wayne, Ind.)
Operating revenue: $873.4 million, up from $783.4 million
Operating expenses: $881.1 million, up from $775.8 million
Operating loss: $7.6 million, compared to operating income of $7.6 million last year
Operating margin: -0.9%, down from 1%
ProMedica (Toledo, Ohio)
Operating revenue: $759.4 million, up from $738.9 million
Operating expenses: $674.5 million, up from $659 million
Operating income: $52.3 million, up from $47 million
Operating margin: 6.9%, up from 6.4%
SSM Health (St. Louis)
Operating revenue: $3.3 billion, up from $2.9 billion
Operating expenses: $3.3 billion, up from $2.9 billion
Operating loss: $7.4 million, compared to operating income of $4.2 million last year
Operating margin: -0.2%, down from 0.1%
