Novant Health reports Q1 $15.2M operating loss, reversing 2022 gain

Winston-Salem, N.C.-based Novant Health reported a $15.2 million operating loss in the first three months of 2023 as expenses rose 8 percent compared with the same period in 2022.

The first-quarter operating deficit represents a reversal of the overall 2022 operating gain of $68.2 million, according to a company filing. However, Novant saw an operating loss of $17.2 million in the first quarter of 2022.

Novant Health, a 15-hospital system, reported operating revenues of $1.94 billion for Q1 2023 and expenses of $1.95 billion. Its overall income totaled $84.2 million.

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