Kettering Health reports $62.4M decline in operating income

Kettering (Ohio) Health has reported an operating loss for 2022 on revenue of $2.5 billion after staffing costs rose 6.4 percent over the prior year.

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The $5.7 million loss compared with operating income of $56.7 million in 2021. The overall loss for the 14-hospital system totaled $182.4 million compared with net income of $187 million in 2021.

Salaries and wages totaled $1.2 billion in 2022, almost half of the health system’s overall expenses. Kettering’s long-term debt was down 2 percent to total almost $713 million.

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