St. Louis-based SSM Health reported a $39.6 million operating loss in the second quarter, a slight improvement on the $49.8 million loss during the same period in 2022, according to financial documents published Aug. 24.
The second-quarter results follow a $16.5 million operating loss in the first quarter and a $248.9 million loss in 2022.
Revenue in the second quarter increased 12.6 percent to $2.59 billion while expenses rose 11.9 percent to $2.64 billion.
Second-quarter salaries and benefits increased 14.1 percent year over year to $1.1 billion.
After factoring in nonoperating items, the 23-hospital system ended the second quarter with a $62.1 million net gain, up from a $247.5 million net loss for the same period in 2022.
SSM Health ended the second quarter with 137.7 days of cash on hand, compared with 145.4 days of cash on hand at the end of 2022.