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.
First-quarter net patient revenue increased 16 percent year over year to $1.08 billion, with total revenue rising to $1.16 billion. Earnings before interest, taxes, depreciation and amortization hit $47 million as increasing patient volumes offset inflationary pressures.
The 14-hospital system saw patient volumes rise compared to the same period in 2022. Year over year, inpatient discharges and observations increased 10 percent, outpatient registrations and physician visits rose 7 percent, emergency room visits increased 11 percent and births were up 4 percent across the network.
Highmark Health posted $6.7 billion in revenue for the first quarter and $227 million in net income.