Restructuring Valley Health reports 2022 operating profit vs. last year's loss

Winchester, Va.-based Valley Health, which said Feb. 28 it would eliminate 31 positions as part of a restructuring program, reported an operating income of $2.6 million for 2022 on $1.2 billion of revenue.

Those figures compared with an operating loss of $1.6 million on $1.1 billion revenue in 2021. The system saw a $76.4 million net loss amid declines in its investment portfolio, compared with net income of $90.2 million in 2021.

The loss of the 31 jobs is part of about 100 positions overall being lost at Valley Health, a six-hospital system employing about 6,000 people.

"Valley Health remains a financially strong and stable health system," Mark Nantz, Valley Health CEO and president, said at the time of the 31 jobs announcement. "Our board and I are of the mind that acknowledging and addressing this changing environment now will help avoid more drastic cuts in the future."

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