HSS operating income improves, but investment arm loses money

New York City-based the Hospital for Special Surgery said Nov. 10 it had operating income totaling $31.8 million for the nine months ended Sept. 30. That figure compares with $3.2 million for the same period last year.

Overall, however, largely because of losses totaling $100 million in its investment arm, the country's No. 1 ranked orthopedics hospital group saw a net loss of $85 million for the period.

Total operating revenue for the nine-month period was $1.11 billion, compared with $1.01 billion for the same period in 2021. Total operating expenses in 2022 were $1.07 billion compared with $1 billion in the same period last year.

HSS, which was ranked No. 1 hospital for orthopedics for the third consecutive year in Newsweek's "World's Best Specialized Hospitals 2023," recently said it would partner with Naples, Fla.-based NCH Healthcare in a $70 million-plus collaboration aimed at bringing improved orthopedics expertise to Southwest Florida.

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