Northeast Georgia Health stays in the black even as income declines

Gainesville-based Northeast Georgia Health System, which earlier this month agreed to acquire rural hospital Habersham Medical Center, reported positive operating income of $118.2 million in 2022 even in the face of higher expenses.

Expenses in the period ending Sept. 30 were up approximately 9 percent on 2021, driven mainly by contract labor and supply costs. But increased revenues helped keep the system in the black even as operating income was down from $217 million in 2021. 

Significant losses on investment returns dragged down overall income further to total $14.3 million compared with $338.3 million in 2021.

Northeast Georgia Health had 296 days' cash on hand at the end of fiscal 2022 compared with 340 in 2021.

Copyright © 2023 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.


Featured Whitepapers

Featured Webinars