Monument Health records almost $35M operating loss as it announces job cuts

Rapid City, S.D.-based Monument Health reported an operating loss of $34.9 million in the fiscal year-to-date period ending March 31.

Advertisement

Operating revenue for the period totaled almost $800 million while expenses came in at $831.6 million. The overall loss in the period was $13.4 million as there was some improvement on investment returns.

The financial news comes at the same time as the five-hospital system said it has laid off about 2 percent of its workforce and trimmed executive pay.

At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.

Advertisement

Next Up in Financial Management

  • Baylor College of Medicine and Texas Children’s Hospital established an affiliation more than 70 years ago in the Texas Medical…

  • Fitch revised Ontario, Calif.-based Prime Healthcare Services’ outlook to positive and affirms its “B” rating.  The revised outlook reflects Fitch’s…

  • Brentwood, Tenn.-based Lifepoint Health, a health system owned by private equity firm Apollo Global Management, has largely grown over the…

Advertisement

Comments are closed.