U of Maryland Medical System posts 9-month $8.9M operating loss

Baltimore-based University of Maryland Medical System reported overall net income of $74.8 million for the nine months ending March 31 but posted a net operating loss.

The 12-hospital system saw expenses rise 5.5 percent, and while revenues also rose compared to the previous year, the total operating loss for the period was $8.9 million compared to operating income of $35.5 million in 2022, representing a $44.4 million swing.

Expenses were impacted by higher than expected contract labor costs, resulting in a $41.5 million total over budget, UMMS management said. Total revenue for the period was $3.8 billion.

UMMS employs over 27,000 people with a total of 2,458 licensed beds.

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