First-quarter revenue increased 13.3% year over year to $1.1 billion, according to financial documents published Feb. 26. Demand for services was high, particularly in the outpatient setting, compared to the prior year.
First-quarter expenses rose 8.4% year over year to $1.1 billion. Key contributors to the rise in costs were internal labor expenses, physician fees and supply costs.
After accounting for nonoperating items, such as investment returns, OSF reported a net profit of $179.8 million in the fiscal first quarter of 2023, up from an $81.8 million gain in the prior-year period.
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