Yale New Haven anticipates deficit of $200M in 2022

Yale New Haven (Conn.) Health is expecting a $200 million deficit in 2022, including an operating loss of $100 million, New Haven Register reported Feb. 23.

The loss is due to pandemic troubles, Yale New Haven President Chris O'Connor told the Register.

"This is the first budget we presented to the board with an operating deficit," Mr. O'Connor said. "There are tremendous headwinds, including labor and supply chain inflation, resulting in the budgeted deficit this year of $100 million."

In 2020, the system anticipated an operating profit before the pandemic but ended up reporting a 2.3 percent operating deficit, according to the Register.

Yale New Haven recently agreed to acquire two Connecticut health systems — which includes three hospitals — from Los Angeles-based Prospect Medical Holdings. Mr. O'Connor said the deal would add about a 4 percent market share to the system's holdings.

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