The outlook for the system is stable as it budgets for an operations loss with a commitment to at least break even in fiscal 2024, Fitch said.
Like many health systems, SSM faced typical industry headwinds such as increased labor costs and longer average length of stay for patients during fiscal 2022, the ratings report stated.
Its diverse geographical and service footprint as well as management initiatives to improve efficiencies and costs are helping offset some of those headwinds.
SSM Health, which had approximately $2.6 billion of total debt outstanding at the end of fiscal 2022, reported an operating loss of $248.9 million after its expenses increased 7.6 percent over the previous year.
