Several more nonprofit health systems have posted recent interim quarterly results since Becker's last major roundup May 12.
Here is a summary of recent results from some of the larger nonprofit systems sorted by whether they were in the black or the red as of March 31.
Net operating losses
Ascension (St. Louis): The 140-hospital system reported a first quarter operating loss of $1.4 billion on $6.9 billion in revenue. That compared with a $671 million loss in the same quarter last year.
Trinity Health (Livonia, Mich.): One of the largest nonprofit health systems in the country, Trinity Health reported an operating loss of $283.5 million for the first nine months of its fiscal year up to March 31. The loss, which included a reduction of $137.2 million from pandemic-related provider relief funds compared with the same period in 2022, also compared with an operating gain of $139.7 million in 2022.
CommonSpirit (Chicago): The 143-hospital system recorded operating losses of $658 million and $1.1 billion for the three- and nine-month periods ended March 31.
Those figures compared with operating losses of $591 million and $638 million for the same periods in the prior year. Lower contract labor costs helped stem some of the operating losses, although hiring challenges remain, the system said.
UnityPoint Health (West Des Moines, Iowa): The system, which is due to combine with Presbyterian Health Services later this year, saw its operating loss total $29 million in the first quarter. That loss followed a $52.2 million loss in the same period last year. UnityPoint, which operates 20 hospitals in its home state as well as Wisconsin and Illinois, and 19 community network hospitals, reported revenue of $1.1 billion in the period, up from the previous year, while expenses rose just 1 percent.
Mass General Brigham (Somerville, Mass.): The system reported a $6 million operating loss in the second quarter of fiscal year 2023, which ended on March 31. The loss is a significant improvement on the $193 million operating loss recorded in the same period last year.
Providence (Renton, Wash.): The 51-hospital system reported a $345 million operating loss in the first quarter on revenue of $6.8 billion.
While revenues were up on the same period in 2022, expenses also rose 5.1 percent to total $7.1 billion. The operating loss compares with a $510 million loss in the first quarter of 2022.
Net operating gains
Banner Health (Phoenix): Banner Health, a 33-hospital system, transformed a $46 million operating loss in the same period last year into a $128 million gain in the quarter ending March 31.
The operating profit was on revenue of $3.5 billion and, with a boost from nonoperating income, the system posted overall net income of $292 million for the first quarter compared with a $171 million loss in the same period of 2022.
Intermountain Health (Salt Lake City): Intermountain Health, a 33-hospital system, reported operating income of $104 million for the first quarter of 2023 on heavily increased revenues of almost $4 billion. That figure compared with $130 million on revenues of $2.8 billion for the same period in 2022.
Mayo Clinic (Rochester, Minn.): The system reported an operating gain of $149 million for the first quarter on revenue of $4.3 billion. That compares with a $142 million gain on $3.9 billion revenues in the first quarter of 2022.
Penn Medicine (Philadelphia): The seven-hospital system revealed operating income of $160.4 million in its reporting period ending March 31. Penn Medicine reported positive operating income in the past five years in the May 24 filing.
The most recent reporting period covers the nine months to March 31. While operating expenses increased from the same period in the previous year, revenues totaled $7.4 billion, an 8.4 percent jump.
UPMC (Pittsburgh): The 40-hospital system's operating income hit $100.4 million in the first quarter — up from $50.4 million in the prior-year period — due to increased patient volumes, the growth of its insurance division and equity earnings in its investment in CarepathRx.
First-quarter revenue increased 12 percent year over year to $6.9 billion, and expenses rose 11 percent to $6.8 billion.
UCHealth (Aurora, Colo.): The 14-hospital system revealed operating income of $61.8 million in the first quarter of 2023 on revenue of $1.7 billion.
Such figures built on previous months' gains, with the 14-hospital system reporting operating income of almost $200 million on revenue of over $5 billion for the fiscal year to March 31.