Mayo Clinic vs. Banner vs. SSM Health: How 3 health systems' finances compare in Q3

Rochester,Minn.-based Mayo Clinic reported a strong third-quarter operating margin despite widespread challenges, while Banner Health and SSM Health posted operating losses that were due in part to staff shortages, inflation, and increased labor and supply costs.

For the third quarter, Mayo Clinic posted net operating income of $157 million, compared to Phoenix-based Banner's $26 million operating loss and St. Louis-based SSM Health's $93.3 million loss. 

Here's how the three health systems' finances compared in the third quarter:

Mayo Clinic (16 hospitals)

($ in millions) Q3 2022 Q3 2021
Total operating revenues  4,117 4,021
     
Total expenses 3,960 3,697
- Salaries and benefits 2,327 2,249
- Supplies and services 1,343 1,179
- Depreciation and amortization 153 155
- Facilities 95 77
- Finance and investment  42 37
     
Operating income 157 324

 

SSM Health (24 hospitals)

($ in thousands) Q3 2022 Q3 2021
Total operating revenues 2,330,115 2,320,701
     
Total expenses  2,403,433 2,263,503
- Salaries and benefits 1,046,515 951,138
- Medical claims 134,990 165,304
- Supplies 682,925 587,762
- Professional fees and other 442,915 461,767
- Interest  18,459 19,128
- Depreciation and amortization 77,629 78,404
     
Operating income/(loss) ($90,032) 83,581

 

Banner Health (30 hospitals)

($ in millions) Q3 2022 Q3 2021
Revenue 9,305 9,029 
Operating expenses 9,419 8,865
Operating loss (113) 164
Operating margin -1.2% 1.8%
Operating EBIDA margin 4.6% 7.7%

 

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