Tenet Q3 net income dips to $101M

Dallas-based Tenet Healthcare reported net income of $101 million — a 23% decline year over year —in the third quarter of 2023 on revenue of $5.1 billion.

Those figures compared with net income of $131 million on revenue of $4.8 billion in the third quarter of 2022. The operating margin for the three months ending Sept. 30 was 11.2%, or $568 million, compared with 12.4% in the same period, or $596 million, in 2022.

The system, which operates 61 acute care hospitals, said salaries, wages and benefits totaled $2.3 billion in the third quarter 2023 compared with $2.2 billion in 2022.

In the nine months ending Sept. 30, revenue rose to $15.2 billion with net income totaling $367 million.

Tenet's ambulatory business, United Surgical Partners International, reported net revenue of $941 million in the third quarter compared with $806 million in 2022. The system's revenue cycle management division, Conifer, said revenue totaled $315 million, slightly down on the same period in 2022.

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