Lifespan reports profit in final 2022 quarter, reversing loss

Providence, R.I.- based Lifespan reported net income of $15.3 million for the final quarter of 2022, even as its expenses rose 7.4 percent higher than the same period in 2021.

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Improved investment performance, which almost tripled over the same period in 2021 as well as increased operating revenue totaling $766 million for the quarter, helped boost the overall performance of the health system.

Operating income totaled $4.9 million, versus a loss of $18.6 million in 2021. The overall $15.3 net income figure compared with a $13 million loss in 2021.

Lifespan, whose obligated group consists of three hospitals and two foundations, has recently appointed new top executive leadership, including a new CEO and CFO.

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