WellSpan operating margin drops to 0% in FY Q1

York, Pa.-based WellSpan Health reported an operating loss of $5.8 million (0% margin) in the fiscal year first quarter ending Sept. 30, down from an $11.6 million gain (0.1% margin) in the same period last year, according to financial documents published Dec. 4 

In the fiscal first quarter, revenue increased 3.3% year over year to $928 million and expenses rose 5.3% to $933.8 million. 

Under expenses, salaries and wages increased 6.2% year over year to $489.8 million while employee benefits decreased 3.3% to $75.1 million.

After including the performance of its investment portfolio and other nonoperating items, the eight-hospital system ended the three-month period with a net loss of $42.9 million, a 49% improvement on the $84.1 million loss it reported in the same period last year. 

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