Operating performance continues to be affected by labor challenges, inflation and inpatient volumes that have not returned to pre-pandemic levels, according to the health system.
Year over year for the quarter, expenses increased 5.3 percent to $4.8 billion while revenue rose 4.8 percent to $4.9 billion. Supply costs increased 7.1 percent year over year to $577.7 million and overall labor costs were up incrementally to $1.26 billion.
Net patient service revenue was up 3.5 percent in the second quarter, primarily due to an increase in surgical procedures, which increased by 8.3 percent year over year. Inpatient discharges and observation cases decreased 0.4 percent and 7.4 percent, respectively, while emergency room visits were down about 1.2 percent.
After factoring in nonoperating items, McLaren ended the second quarter with net income of $350.5 million, compared with a $167.7 million net loss for the same period in 2022.
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