While the health system’s operating revenue was slightly up for the year, both permanent and temporary staffing costs rose to take overall expenses to a total of nearly $424.9 million. Salaries were up 10.1 percent, and temporary labor costs increased 7.1 percent.
TidalHealth reported an overall loss of $25.8 million for 2022, compared with a $3.8 million loss in 2021.
The system, which had its previously stable rating outlook revised to negative by S&P Global Feb. 2, operates two hospitals in Maryland and Delaware as well as several specialty clinics, primary care locations, an insurance division and assisted living complexes.
