In the last wealth, at least five health systems have reported multimillion-dollar operating losses for the first quarter ending March 31:
Here's what ASCs need to know:
1. St. Louis-based Ascension posted a $1.8 billion operating loss in the nine months ending March 31. The nine-month loss was on revenue of $21.3 billion. In the quarter ending March 31, the 140-hospital system reported an operating loss of $1.4 billion on $6.9 billion in revenue.
2. Pittsburgh-based Allegheny Health Network, part of Highmark Health, posted an operating loss of $36.2 million in the first quarter, a significant improvement on the $105.5 million loss for the same period last year.
3. Marshfield (Wis.) Clinic reported a $32.6 million operating loss in the first quarter. Total operating expenses in the first three months of this year were $812.3 million, a 7.1 percent increase, or $53.7 million, compared with the same period last year.
4. Livonia, Mich.-based Trinity Health, one of the largest nonprofit health systems in the country, reported an operating loss of $283.5 million for the first nine months of its fiscal year up to March 31.
5. St. Louis-based SSM Health reported higher operating expenses in the first quarter of 2023, which dragged the system to an operating loss of $16.5 million.