St. Louis-based SSM Health has reported a 2022 operating loss of $248.9 million after its expenses increased 7.6 percent over the previous year.
This compared with an operating gain of $208.7 million in 2021. Total revenues in 2022 were $9.3 billion for the 23-hospital system.
Investment declines dragged the overall loss further down, to $464 million, compared with net income of $715.8 million in 2021.
The health system said late last year it has approximately $425 million annually to spend on capital projects over the next few years, with much of that figure coming from operating cash, philanthropy support and investment earnings.