The 12-hospital system recorded a loss of just over $145 million for the first half of the year, a “very modest” performance but one that did improve on the same period in 2022. Still, such recovery was below expectations, Fitch said.
“The negative outlook reflects operating margins in interim [fiscal year 2023] that, while improved markedly over interim [fiscal year 2022], continue to be considerably compressed and have not rebounded to levels expected when Fitch downgraded the system in fall 2022,” according to the note.
Positive factors going forward include a track record of MultiCare generating strong operating metrics and solid market share, Fitch said.
“Of note, despite continued operating losses, MultiCare continues to record volume gains,” it added.
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
