St. Louis-based SSM Health recorded an operating loss of $4.1 million (-0.1% operating margin) in the first quarter of 2025, an improvement from an operating loss of $20.3 million (-0.7%) margin during the same period last year, according to its May 22 financial report.
SSM Health reported total operating revenue of $2.9 billion for the three months ended March 31, up from $2.8 billion during the same quarter last year. Net patient service revenue increased 4.7% year over year, which SSM attributed to improved adjusted admissions and favorable rate variances compared to 2024. Pharmacy benefit manager revenue increased 8.8% year over year, driven by greater dispensing volumes and favorable performance on specialty access guidance.
The system reported total operating expenses of $2.9 billion for the quarter, up from $2.8 billion during the same period last year. Medical claims decreased 18% year over year due to a lower volume of claim payments to non-SSM providers from the risk pool. Supply expenses increased 9.6% due to an increase in 340B revenues and increased adjusted admissions.
SSM Health had 129.7 days cash on hand as of March 31, up from 128.5 on Dec. 31. The system had a long-term debt of $1.6 billion as of March 31.
After accounting for nonoperating items, such as investment returns, SSM posted a net income of $1.9 million in the first quarter, down from $102.4 million during the same period last year.
