The figure builds on a similar loss of $194.9 million for the same period last year.
Improved non-operating income dragged the 12-hospital system to a net income of $29.2 million for the period, compared with a net loss last year of $446.8 million.
Operating expenses were a drag on income as they increased 18 percent on the previous year period to total $2.5 billion. Contract labor costs are still elevated, as are supply costs, the system said.
“Though results show good improvements in contract labor costs compared to prior year, reliance on contract labor and contract labor rates remain a significant challenge,” management said in the filing. “MHS continues to see higher supply expenses associated with high volumes and higher inflationary impacts in this area.”
Days’ cash on hand totaled 197 as of June 30, compared with 221 at the end of 2022.
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