St. Louis-based SSM Health recorded an operating income of $148.5 million (1.2% operating margin) in 2025, up from an operating loss of $70 million (-0.6% margin) in 2024, according to its March 23 financial report.
The system reported total operating revenue of $12.7 billion for the 12 months ended Dec. 31, up from $11.4 billion in the same period last year. Net patient service revenue was $7.3 billion, up from $6.8 billion. Capitation revenue was $1.3 billion, roughly flat year over year. Pharmacy benefit manager revenue was $2.6 billion, up from $2.2 billion.
Total operating expenses were $12.5 billion in 2025, up from $11.5 billion in 2024. Salaries and benefits totaled $5.1 billion, up from $4.8 billion. Medical claim expenses were $594.5 million, up from $556 million. Supply expenses totaled $2 billion, up from $1.8 billion. Pharmacy benefit manager supply expenses totaled $2.2 billion, up from $1.9 billion.
SSM Health reported a net income of $483.6 million in 2025, up from $249.3 million in 2024.
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