Intermountain operating income rises to $134M in Q1

Salt Lake City-based Intermountain Health posted an operating income of $134 million in the first quarter of 2024, up from an operating income of $104 million in the same period last year, according to its May 21 financial report. 

Revenues increased 6.6% year over year to $4.3 billion in the quarter ended March 31. Patient service revenues increased 7.2% to $2.5 billion.  

Expenses increased 6.5% year over year to $3.9 billion. Employee compensation and benefit expenses increased 5.9% to $1.8 billion. Supply costs increased 4% to $731 million. Medical claim expenses grew 6.4% to $720 million. 

After accounting for nonoperating items, such as investment income, Intermountain reported a net income of $757 million in the first quarter, up from $549 million posted in the same quarter last year. 

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