Portland-based Oregon Health & Science University recorded an operating income of $65 million (1.4% operating margin) through the third quarter of 2026, up from an operating loss of $71 million (-1.7% margin) during the same period last year.
OHSU reported total operating revenue of $4.7 billion for the nine months ended March 31, a 14.1% increase year over year. Net patient service revenue increased 20.6% to $3.4 billion. OHSU’s case mix index increased to 2.66 from 2.55, driven by a targeted expansion of services such as CAR-T, BMT, gene therapy and complex cardiac and neuro surgeries, which increased acuity and revenue.
Total operating expenses were $4.6 billion, a 10.6% increase year over year. Salaries, wages and benefits increased 11.3% to $2.8 billion, which includes previously delayed wage increases associated with various collective bargaining agreements. Services, supplies and other expenses grew 10.3% to $1.6 billion.
OHSU noted in its report that operating results have had “considerable month-to-month variability” amid a long-term trend in which payments per case are not keeping pace with rising labor, pharmacy and medical supply costs.
“Healthcare earnings are highly concentrated in a relatively small number of complex and high-cost cases that, depending on reimbursement, can impact an individual month’s results.”
OHSU reported a net income of $143.2 million through the third quarter of 2026, up from $24.2 million during the same period last year.
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