New York City-based Montefiore Health System recorded an operating loss of $20.8 million (-1% operating margin) in the first quarter of 2025, an improvement from an operating loss of $27.9 million (-1.4% operating margin) during the same period last year, according to its May 29 financial report.
The system reported total operating revenue of $2.1 billion for the three months ended March 31, up from $2 billion during the same period in 2024. Net patient service revenue totaled $2 billion in the quarter, up from $1.9 billion last year.
Total operating expenses were $2.2 billion for the quarter, up from $2 billion during the same period last year. Salaries, wages and benefits totaled $1.4 billion, up from $1.2 billion. Supply and other expenses totaled $718.3 million, up from $698.8 million.
The system posted a net loss of $14.8 million, down from $5.4 million during the same period last year.
Montefiore’s Executive Vice President, CFO and Chief Business Officer Colleen Blye said that while the system’s finances remained consistent, the proposed changes to Medicare and Medicaid reimbursements are “drawing the attention of healthcare providers across the country.”
“As one of the largest employers and providers of healthcare in the Bronx and Westchester, we are navigating a challenging and uncertain healthcare environment,” Ms. Blye said in a May 29 news release shared with Becker’s. “Yet, we remain committed to providing the highest quality care to our communities, and to evaluating opportunities to reduce expenses and diversify our payer mix. We implore elected officials to continue partnering with institutions like ours, serving a patient population that is 85% covered by government [payers], to ensure sustainable funding.”
