Novant Health reports operating gain of $68.2M in 2022

Winston-Salem, N.C.-based Novant Health reported operating income for the year ended Dec. 31 of $68.2 million on just under $7.6 billion of revenue.

Advertisement

The operating income figure compared with a $369 million gain in 2021 as expenses rose 6.5 percent. The 15-hospital system reported an overall loss of $222.8 million in 2022 compared with a gain of $812 million the year before.

Novant Health laid off about 50 workers, including multiple C-level executives, March 29.

The health system, which operates in its home state as well as South Carolina and Georgia, employs approximately 35,000 people.

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

Advertisement

Comments are closed.