Grand Forks, N.D.-based Altru Health, which trimmed its executive numbers to save costs earlier this year, reported significantly lower non-physician contract labor costs Aug. 8.
Such expenses totaled just over $3 million in the second quarter of this year compared with $7.3 million in the same period last year, a decrease of 57.6 percent. Physician contract labor, however, almost doubled to total $3.9 million.
The system, which in April was looking to borrow $125 million to cover costs for its new $380 million hospital project, reported operating income of $3.8 million for the quarter compared with $8.8 million in 2022.
Overall income totaled $10.4 million versus a second-quarter 2022 loss of $14.9 million. Altru Health reported overall income for the first six months of the year of $26.3 million versus a loss of $31.5 million in the same period last year.