Salt Lake City-based Intermountain Health reported operating income of $104 million for the first quarter of 2023 on heavily increased revenues of almost $4 billion. That figure compared with $130 million on revenues of $2.8 billion for the same period in 2022.
The 41.3 percent increase in revenue over the same quarter in 2022 was offset by a 43.9 percent hike in expenses, which totaled $3.7 billion for the period.
Intermountain Health merged with Broomfield, Colo.-based SCL Health in April 2022, adding a net $4.2 billion of assets for the year.
Improved investment returns helped boost Intermountain's bottom line, with the 33-hospital system reporting net income of $549 million compared with a $298 million loss in the same period last year.